Thread regarding Wells Fargo & Co. layoffs

Profts & Company Health

Some would say that the company is healthy due to big profits but that is primarily an investor perspective, not an employee perspective. As an employee you need to ask:

  • "What is the company resorting to in order to make those profits?
  • "Are those profits coming from natural growth within the company or is the organization using other tactics to beef up the numbers?"
  • "Are benefits being reduced?"
  • "Are the goals and metrics reasonable or are they starting to look impossible?"
  • "Are our teams growing or shrinking?"
  • "What about the positions that were vacated by previous employees by leaving or RIF... are those positions getting filled or are the remaining people simply expected to pick up the extra slack?"
  • "What is the trend for locations? Are more sites popping up or are there just more closings in your general area?"

This isn't a secret anymore. Wall Street calls the shots now and investors want the best return on their investment. This mentality affects the entire organization, not just parts of it.

Patriotism is not a factor to these people.

To get the best bang for their buck they want labor and production shifted to the cheapest countries possible. To make this happen they just squeeze and squeeze employees until they can't take it anymore and are forced to leave. The work thats left just gets dumped on everyone else until the site closes and a new site overseas takes its place.

Is the company healthy? Not if your are the employee getting squeezed and sacrificed in order to make those huge profits...

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| 1402 views | | 6 replies (last November 2, 2021) | Reply
Post ID: @OP+1dBBykrL

6 replies (most recent on top)

@OP+1dBBykrL
"Patriotism is not a factor..."
What? Patriotism has nothing to do with this. Patriotism doesn't have anything to do with offshoring jobs or not. Patriotism doesn't drive profit or growth. Devotion to one's country - key word being 'one' meaning personhood, not corporations - has nothing to do with business. Business is global, and anyone who doesn't jump on that ship is going to get left behind pretty quickly. On a global scale, there is far more money to be made. That doesn't mean they have to only hire US workers.

"Wall Street calls the shots now"
...just like they have for the past 100 years or so.

We get it dude. You're disillusioned and the world is changing too fast for you.

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Post ID: @1dbk+1dBBykrL

Post ID: @1ryk+1dBBykrL

It doesn’t say much about you that you call ethical “uneducated”.

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Post ID: @1hsv+1dBBykrL

What an uneducated post by the OP. No way that the OP has even an associate degree in business. In the unlikely event that OP works here it could only be in an entry level clerical role.

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Post ID: @1ryk+1dBBykrL

OP is my spirit animal. Well said. There is much more wrong within WFC than there is right.

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Post ID: @1rfe+1dBBykrL

Thanks Dad!

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Post ID: @1slm+1dBBykrL

Don't come here to try to get inside info. Read the 10-K's you communist sc-m.

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Post ID: @1qiy+1dBBykrL

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