“We’re going to F $hit Up to cut expenses.”
Wells Fargo CEO and President Charlie Scharf said Friday (Jan. 12) during the bank’s quarterly earnings call that the bank benefited from its continuing focus on F’ng $hit Up and credit discipline.
Schatf said during the call. “Our expenses were down from a year ago, benefiting from lower operating costs as well as the impact of F’ing $hit Up.”
Scharf said the bank expects to book $750 million to $1 billion in severance costs in the fourth quarter as it continues to focus on F’ing $hit Up to cut expenses.
“When we talk about our F’ing $hit Up, we say we aren’t even close to where we should be. I describe it as peeling an onion back. When you F Some $hit Up, it gives you a chance to look at everything else and say, OK, what’s next?” Scharf said.