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doesn't Peter lead the finance/alm/treasury group that is responsible for those stellar bond purchases?
@kxl+1nMEL9rK sorry out of room in TX
if they vacate SF - which most people in SF are already working remote because they don't like the commute - what would they do with their real estate - give it to the homeless - SF real estate is down in the dumps - don't think they could even sell it
“Poke your head up over the cubicle”
And shout. Make sure it travels 800 miles to your coworkers.
This only makes Peter look good, I'd be proud to work for him. He knows his numbers. Well-spoken and even-keeled. The other 2 are NOT earning their $MMMillion dollar salaries.
I dont buy that simple "No" for a second.
Imagine how much money they'd save if they didn't lose billions buying low interest bonds in an obvious raising rates environment
EC should lead by example and relocate to Texas. Done, problem solved. Savings on one of the most expensive real state in SF.
They're out of space in HQ the biggest campus and still FORCING people back. You can't make this up. Absolute shitshow.
THEY ARE SCRAMBLING - for such big changes they should have their responses down pat - maybe this is a sh&t show and decisions are being made off the cup - a total disgrace
Outside of the content. I'll just say Rick's performance is pretty uneven. Not a great communicator like some of the other execs. Can't see him having the BS skills needed to take over.
Peter Crawford is a great communicator. Really knows the details. I'd buy ice from him in a snowstorm.
Minute 1 we are the strongest position ever
Minute 2 but somehow can't find no money for bonuses
Minute 3 also we can't sell our Real Estate for $$$ b/c culture
Minute 4 but we are closing 25% of our offices, wait what?
Minute 5 Wells Fargo has less expense growth than us
Minute 6 Morgan Stanley has higher expense growth than us
Minute 7 synergies = y'all are "easy cuts"
Tone: I'm just here so I won’t get fined, they really don't care about you
https://www.youtube.com/watch?v=rmABbHSOTqQ
Dude just tried to tell us we're going back to the office because when someone else took the time to go in and nobody else was there they were sad.
"Tune out the noise". from where - this board and how disgruntled people are. The noise couldn't be in the office because we are still remote till October - duh
"people working from home meant that there weren't people in the office"
Did Rick just say one of the drivers for eliminating workplace flexibility is when you're in the office "When you have a question you can call that person". Call???
How many times is this re--rd going to say disrupt the industry.
I would be passed out if we were playing a drinking game each time Rick says "efficient"
Sooooo literally nothing new? Waste of my time.
We want to know when these lay offs are happening!! “I know it causes anxiety but just tune out the noise” LOL
announcements this week, layoffs next week
Glen Mathison is responsible for corporate communications? He should be the first to be terminated.
You think all of these changes are really covering up how bad a position the company is in ?!
Don’t focus on your anxiety? Focus on your clients? Can it be any more tone deaf?
I've never yelled "FU-K YOU" more at a computer screen in my life. "Shut out the noise and focus on work" easy to fu----g say when you make millions PER MONTH and your job is safe despite all the terrible decisions made.
“decentralizing the enterprise”
Transparency is a hallmark of our company, but only when it comes to announcing layoffs in which we watch you squirm. Everything else like eliminating workplace flexibility and forced RTO is a bo-b dropped at the last second.
Can I get some of the Dr*gs these guys are on?
G: "how much is going to be from real estate savings, and how much will be layoffs"
R: "well we have some offices, those will close. And then there are some jobs, those wont exist anymore."
“Every dollar we save on real estate is a dollar we don’t have to save somewhere else”
THEN DIVEST AND LET US WORK FROM HOME!
“synergies”
“Positional Eliminations”
So bonuses are way down, you mandated a wildly unpopular RTO, closed several locations, and expect massive layoffs to the tune of $500M… but things are great and we are in a position of strength? Yikes: hate to see what they would do in tough times.
The disconnect between executives and Glen's Comm team is clear in the disjointed statements over last 2 months.
Okay Corporate Communications team is based in San Francisco...but HQ is Texas?
They should lead by example and move that communications team to Texas - get everything in the same office since they are the ones communicating RTO for better culture. These repeated communication gaffs could be due to not being co-located as most F100?
"Below 100%" bonus funding. Based on our own plan.
"Very strong position" just not strong enough to keep you around. Su-k it peasants
This guy is full of sh-t.
Also. Captcha. 69
Nice