https://theonion.com/ceo-assures-employees-he-doing-everything-in-his-power-1842904330/
3 replies (most recent on top)
So funny. And so true.
Why can’t it be every Tuesday 😠
The Onion may be satire, but it's not that far off what CS really said last year:
https://www.msn.com/en-us/money/companies/more-aggressive-job-cuts-are-coming-to-wells-fargo-the-bank-s-ceo-says/ar-AA1l6Nnd
"Wells Fargo is planning to be “more aggressive” about layoffs at the bank, and expects to have higher severance costs in the fourth quarter than initially expected, its CEO said."
With WFC's stock price at an all-time high now, you should expect the cutting to continue to be deep and for a long time. I've long guessed they are targeting an employee count of 150,000 by 2027 or so. They're already down from 283,000 to 220,000 and CS appears to show no sign of slowing, and the stock market is loving it.
Either be looking for a new job, or be ready for when you get the meeting notice late Monday night for a 9am meeting with your boss on the Tuesday that follows a payday.