Current Stock Price: $48.19
Paid $30M a year, given a 18% raise this year... we didn't even have a CEO for like 9mo and stock price was higher. Gets a job thru a family friend hired directly by Jamie Dimon. Even hires Jamie's son in law.
Am i the only one who thinks some strange stuff is going on here. Might as well have hired a horse or a cat and said they were CEO. Only trick he seems to have is having just about every job posting listed for India.
Here’s WFC market cap history since CS the Sly joined the bank:
10/1/2019: $219B
2/6/2024: $174B
Market Cap Range, Past 5 Years
How do you rate CS performance? 5 years of bank employees’ hardwork and profits didn’t translate to the bank’s market valuation, not only that, factored the time value of money . WFC is worth a lot less than before CS.
$40B stock buyback didn’t do the trick.
18 major scandals and billions more fines didn’t help.
CS the one trick pony thinks cutting US headcount and replacing with cheaper labor in India and Philippines will boost the profit. That’s the shortcut to disaster.
CS is a fail, BoD is a fail. Glad I am almost done working. It’s upsetting to see the bank we as employees collectively built being ruined day by day by this abject failure, who has collected $100 mil since and accomplished NOTHING!!
I really hope things work out for you. Shart has many victims. Hopefully your big break is coming soon!
Me, I'm glad that my displacement just for being remote in some small way contributed to expanding the corporate footprint in the most expensive real estate in the country (Hudson Yards) and growing Charlie's paycheck.
Yup.
Still looking six months later. Nothing. Glad I had 17 years in, but my severance will run out in May.
This bank is being dissolved, every second of every day!
Massive layoffs, will continue and the jobs will go overseas.
This bank will get divested and go to JPM. Period.
Probably have some time, maybe 2025 it will be all completed.
Me sharty, me hire India and Philippines only, fire US. Me sharty.
He's an abject failure. I used to be able to go grocery shopping for $50/week around that time. Now it's $150, but our stock price is still $50, even after buying $40B via buy backs? Horrendous performance. If it was a price being paid to get out from under the cap and reg issues, people would be more tolerant of the garbage performance, but we're no closer to that. They've practically stopped talking about it. Probably because of you're here to wind down a bank, the cap isn't a barrier to you.
The firm should be dissolved and forgotten.
It's a big club and you ain't in it.
Shart lol at us peasants, looks at us in disgust
He needs to resign. He’s a classic example of the Peter Principle—everybody eventually rises to their level of incompetence.