Thread regarding Wells Fargo & Co. layoffs

Wells Fargo’s new Mission Statement: Helping Charlie Succeed Financially

(Previously, Helping Clients Succeed Financially)

Charlie is not an “A rising tide lifts all boats” kind of guy. No - he has his hand in everyone’s pockets, exploiting us all to enrich himself. Who doesn’t Charlie mind exploiting?

  • Wells Fargo - Hand deep in the till; serves on the BOD where he gives himself generous pay raises and approves spending $Billions on Company Stock Buybacks to increase the value of his Executive Stock Options which are a large component of his pay.
  • Employees - Hand in your wallet denying your right to fair and transparent pay, laying off large #s of U.S. employees inflicting financial hardship while putting more money in his pocket, multiple wage and hour violations, increasing employee costs for less healthcare, reducing the benefits of an already mediocre 401K, multiple benefit plan administrator violations which benefit the bank and rip-off employees
  • While we’re at it, what else is Charlie taking from employees? your job stability and security, your work-life balance, your voice, appropriate staffing, a healthy work culture, internal career advancement, experienced leaders, your power, teams, respect and appreciation, and personalized workspaces.
  • Clients - paying clients a paltry 0.25% interest on cash-sweep programs, reducing customer services while finding new ways to extract more money from them,, sending their private sensitive financial information to third-world countries. Ongoing investor protection violations, consumer protection violations, and mortgage abuses.
  • Weakening communities - Charlie has the ba--s to exploit and weaken the very communities he depends on for business via mass layoffs, while lying that he will try to place laid-off employees in new roles, and then complaining about rising debt defaults.
  • Undermining America - shipping U.S. jobs offshore reducing demand for domestic labor, reducing taxes withheld and paid to the U.S. Government, creating confidentiality and security issues etc.

He’s a prince of a guy.

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Well said. He is doing nothing fundamentally better for the enterprise or its stakeholders. It is all just chicanery, a long con.

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