Thread regarding Wells Fargo & Co. layoffs

A Modest Proposal for Hudson Yards

Many commentators on this board believe that employees in different geographic locations that are paid differently because of the cost of living of their location are, although being paid differently, roughly equivalent in their situations (i.e. getting lower pay in a lower cost of living location is the approximately the same as getting higher pay in a higher cost of living location).

In the next wave of displacements, why not offer affected employees the opportunity for paid relocation to bangalore, manila or one of sites in that geo? Of course their pay would be adjusted according to the cost of living in those places, but its "the same thing". Win-win!

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Post ID: @OP+1sGl6R0W

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For paper shufflers, we shouldn't have any people in SF or NY or DC. That's just a no-brainer. You know the degree of scrutiny that is being put on remote workers to eliminate their accommodations? That's exactly what we should be doing with all jobs in those high COL area. Unless the role absolutely has to be there and can't be done elsewhere, the role needs to move. That would be an actual "efficiency" change. It's a complete farce to shut down Boise, Jacksonville, Birmingham, etc. to make room for more NYC people / buildings. Complete waste of money.

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Post ID: @1ixg+1sGl6R0W

Here’s a better modest proposal. Stop talking out of both sides of your mouth and GTFO of NY. The half billion spent on owned redeveloped estate, willfully boosting the inefficiency ratio by hiring in an expensive market. Fodder for shareholder activism soon enough. Icahn, Ackman, Loeb… wanna take my call?

Wall Street doesn’t believe Charlie’s money center bank fantasies and doesn’t adjust efficiency ratios for area differentials between banks.

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Post ID: @dlg+1sGl6R0W

I’d try Manila

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Post ID: @gzn+1sGl6R0W

Because nobody would do it? Even Indians wouldn't want to go back

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Post ID: @rdh+1sGl6R0W

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