Thread regarding Wells Fargo & Co. layoffs

It takes a long time to learn the skills required for a new job. Wells Fargo has invested probably millions of dollars in training those employees who now no longer work at Wells Fargo, but have been displaced and now work at a different company. Or those former employees who just leave their job at Wells Fargo to work at a different company, but were not displaced first. That is a great net loss of revenue for Wells Fargo. All of those training dollars spent on former employees will have to be spent on new employees who take their place at Wells Fargo, now or in the future, somewhere on Earth.

"Good people have been leaving for nearly a year now"

Eh, most of the talent left 5-10 years ago.

Good people have been leaving for nearly a year now. From the looks of it, WF management is downgrading talent to save on salary expense. This will work in the very short term. But key people will not only pull key clients, other great employees will follow. Ultimately, WF will find itself with fewer clients and scrambling to hire talent. And will have to pay a premium for anyone to consider working there. The open CEO spot is a good example.

"NO ONE is irreplaceable."

Entire segments of business have collapsed because of individuals leaving. This company is a running joke because of individuals leaving.

We've all noticed that exec's have been leaving.

Most of us have been wondering what took so long.

Believe it or not, management is the most replaceable group. If they're doing the job right, they don't do any actual work, they motivate, they oversee, and they make strategic decisions.

Rank and file do the actual work, no matter what you read in Atlas Shrugged.

You do realize the CISO, CIO, and others all quit within two weeks months ago without anyone batting my eye

"NO ONE is irreplaceable."

This is true, but it misses the point by a mile.

Anyone can be replaced, but losing good people because management is incompetent is a sign of a poorly run company.

The market eventually punishes poorly run companies.

NO ONE is irreplaceable.

Why are you copying and pasting your responses as new posts? Come up with a new topic are stfu