https://finance.yahoo.com/news/exclusive-wells-fargo-ceo-ruffles-164524292.html
10 replies (most recent on top)
Hello! Don’t you realize this story is a cleverly planted one. This speech is an old one. It was rendered in a matter of fact way. The old team that is adamantly opposed to our CEO has just raised its ugly head .
@gns+174kvXIC - While it is accurate to state that 13% of the US population is Black (source: US Census) it is also accurate that 16% is Hispanic, 5% is Asian and 51% is female (Source: the same US Census data). The statistics being used on your post do not support giving a pass to hiring practices that lead to a predominantly white male senior leadership team, otherwise half would be female and no more than 60% would be white. So, contrary to what you stated, your statistics do not support the claim that a diversity problem does not exist.
I would vehemently disagree with those saying he is stating a "fact" until you show evidence that executive recruiters have attempted to build a diverse talent pool at senior levels and were not able to do so due to lack of viable candidates. Show the evidence. Until that happens, it's a fallacy that becomes a failed attempt to legitimize discriminatory hiring practices such as those that WF recently was sued for and settled.Google it.
Not sure how his comments were "unfortunate". The truth is what it is.
Only 13% of the US population is black. Of that small percentage, think about the fraction of that who qualify to be executives. It's an even smaller percentage, just like every other race.
In other words, there's a lack of talent in the pool.
And of course, more importantly, someone's skin color is not a qualification, but tell that to spineless WF.
If you hire your friends, and your friends are all white, then the outcome will be obvious
Of course there's a shortage of black talent in the pool where they are hiring. India is mostly inhabited by Indians (Asian).
If this were anyone other than the CEO, would they have been fired already?
Not unfortunate, if true.
Companies care about how much they are paying and what they are getting.
From the referenced article: "One of the Wells Fargo employees said there simply was no lack of talent: "I can get them 10 to 15 resumes today."
Sure, lots of people want a high paying job. But are they 1) qualified and 2) willing to put in the work?
Also, the article mentioned that 10% of new board members are black vs 13% general population. That's pretty close and certainly not even statistical evidence of discrimination. Probably it is over-representation when considering the board candidate population.
I don't think the CEO is being racist. He's just stating a fact.
Diversity is all well and good when the economy is growing and jobs are plentiful, but when seas get rough it’s women and minorities overboard.
Wells Fargo doesn't care about diversity beyond whatever optics they can peddle to the street. They are gutting women at the company, full stop.