Do you ever feel like the management is purposely leaving us in the dark regarding what's happening in the bank? I'm primarily talking about the various layoffs we only find out about here. It's like they think if nobody but the affected group knows it, it didn't happen. Such childish behavior.
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Not really hiding anything. Charlie said he would cut wage costs when he came into the bank because WF trailed peers in wage expenditures compared to revenue. That probably got derailed by COVID.
In my area, tech has been hit hardest so far (public info). Always suspected we have duplicative compliance and risk groups, but those would be hard to cut with the very public regulatory issues.
The corrupt leadership loves to keep us in the dark. That's how they feel powerful.
Non-employee share holders love that kind of news.
What does a company have to gain by advertising that they are laying people off???
Morale would be 10x worse if they kept publicizing every lay off. They’re also not going to divulge a lot of other things behind exec leadership bc it could be material and would def leak.
There is a troll posting a bunch of nonsense to distract us.
They look at keeping us informed as a waste of time. What purpose does it serve if you're going to downsize everyone anyway? They just need us to train our outsourced replacements and turn the lights off on our way out. People getting S canned don't need to know where the company is headed or why. They just need to leave.
These posts are a waste of time
Cowardice is certainly some of it, but more of it is incompetence and confidence selling. What does a con artist sell? Confidence. That's WF execs. Always trying to sound like they know what they're talking about, but they never really do.
All banks during restructuring act in the same way I work for one of the big 5 undergoing mass layoffs and it is no different
Suggest company-wide emails be sent whenever people are displaced. Submit to Loudspeaker.
This thread nails it. Replies so far are spot on.
There is no doubt in my mind whatsoever that it is absolutely intentional for senior management to keep a lid on such a dastardly act as company layoffs!
What do they care?
Just for once, wouldn't it be poetic justice for these executives to feel the sting of being let go for no other reason then to improve the almighty bottom line?
WF leadership is not just cowardly, but they are also very corrupt to the core. They have no morals and no issues with lying. They will do anything to protect their own interests.