It looks like we’re at 40% right now for our cohorts in India.
Do you think this whole company will go to India soon?
Stock going up, I wonder why? Cheap labor? We’re not under the asset cap, so I just don’t really get it.
11 replies (most recent on top)
"Hey, genius -- we dumped our shares and invested in others far above 60."
lol, sure you did. You sold your 401k Wells shares at what price and purchased exactly what? Wells Fargo has outperformed the market since covid lows and your options in 401k are not great.
Device by device, my comments are being rejected. Clowns.
India has sla ves.
Hey, genius -- we dumped our shares and invested in others far above 60. Tell me you don't understand opportunity cost without telling me you don't understand opportunity cost.
We'll watch you languish in the 30s when next scandal hits in 1, 2, 3...
That’s a horrible accomplishment… We are suffering because everything is going wrong. It’s a language barrier and it’s causing service breaks with customers and compliance issues.
You forgot reason #1, the dollar is worth less. WFC is a garbage stock akin to investing in Sears a few years back.
I’m sorry to my neighbors but the executives won’t give me an office or let me work from home, Blame them. They want you to be frustrated and quit.
The target is 95/5....India/US. Core Exec leadership will remain in US with a few local regional leaders...most line staff positions are targeted for India by 2026.
With respect to the 5% resources remaining in US...India resources within in the US will continue to assume the bulk of all US leadership roles, controlling from the US the line positions in India.
Special filters will be installed in WFB US facilities to remove the stank of curry that will be permeating through the walls when the transition is complete.
Were you one of the geniuses telling people to dump their shares and that it's not going to 60?
It has been moving higher for multiple reasons.
- Company is getting leaner.
- Profitable and will further improve.
- Growth is on the table.
- It's not expensive.
55-60 is a technical resistance area and anyone who was telling people to sell in the 30s and 40s recently is a clown.
@elq What roles were primarily US besides customer facing? Anyone left in HR, Tech, Legal or Risk?
Still under asset cap
I say it will be 80% India 20% the US eventually. I have seen this ratio at my previous company. It's all about the bottom line.