Thread regarding Wells Fargo & Co. layoffs

Charlie Scharf

He's so committed to Wells Fargo that he will essentially manage it from his neighborhood in New York City. This guy has a history of not finishing what he started at companies. He's a 50/50 chance of helping the company kind of hire. He works hard on his personal 'brand', including wearing skinny jeans (he comes off like an over-the-hill action figure), and even dying his hair grey. He is particularly adept at presenting himself as a socially-concerned corporate leader wants to make society better, fairer, less bigoted, etc.

Meanwhile, his very own activity (running financial organizations) is somewhat responsible for creating the misery he bewails. He's just one of many clever corporate rats who specialize in lining their pockets and the pockets of their benefactors. The don't care one wit about you, me, or this country.

I'm sorry, but you are getting a morally debased, selfish sociopath for a CEO.

We are glad to be rid of him at BNY Mellon. He left our company worse than he found it.

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| 8732 views | | 18 replies (last April 17, 2025) | Reply
Post ID: @OP+11fdokUJ

18 replies (most recent on top)

I couldn't agree more with the initial post. I've been with WF for 28 years and it used to be a wonderful company. Scharf is the worst CEO we've had. He's offshored TONS of jobs to India while, at the same time, laid off an equal amount of American Based employees. He's gotten rid of so much talent here in America, it's beyond me to understand. That is, except for lining his own pockets with generous salary and bonus's for himself. My last raise was 1.5%...If I was an under-performer, I don't think I'd have lasted 28 years. If my retirement fund recovers from the recent drop, my focus will be leaving what was once a great company. The Indians can have it now, as I'm sure they will, thanks to our CEO.

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Post ID: @8xjv+11fdokUJ

He already fired up his chainsaw. Layoffs across the board

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Post ID: @14nqo+11fdokUJ

Feel bad for Wells. Get ready for quarterly lay offs, 1% raises, bare minimum insurance and a overly inflated executive row. No more offices for managers or cubicles for staff, you will get to know the joys of open seating. If you work from home plan on possibly losing that too, his plan was to eliminate that policy at Bony. He will have his town halls and tell you what he thinks you want to hear or what is going to make him look good but if you are not one his hand picked on executive row he could care less about you.

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Post ID: @6nlc+11fdokUJ

They don't want him to return his devices. They are likely full of toxic viruses, just like his leadership style.

I feel awful for Wells Fargo employees. They have no idea what's about to hit them. They think they've hit their lowest point already – not even close.

Scharf is about to put the final nails in their coffin.

The Wells Fargo Board is blatantly negligent at this point. There ought to be lawsuits, since all of Scharf's issues have been quite visible/public. There's no valid excuse for hiring him, when they could have kept looking for someone more qualified.

Better to have an empty seat than a known horrow show.

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Post ID: @2rmq+11fdokUJ

Charlie is very tech savvy. His team delivered the only solid implementation of Windows 360 in the bank to all of his devices so he can view his net worth anytime from anywhere. Be shocked if the devices were returned.

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Post ID: @2ink+11fdokUJ

Why move anywhere when you're not planning on staying?

He's just thinking of how he'll spend his new windfall before he moves on to next financial institution dumb enough to hire him. He's a wrecking ball.

Such an incestuous industry full of greedy rats. SMH.

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Post ID: @1qjc+11fdokUJ

Why move it to Charlotte you ask? Expenses are too high in SF. Talent pool in CLT

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Post ID: @1bpo+11fdokUJ

Why move it to Charlotte? His life and cronies are in New York, as is a lot more banking talent than Charlotte has.
I think the writing is on the wall. Can the SF management team, rebuild in NY, no travel required.

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Post ID: @1zdd+11fdokUJ

The reason he left visa was because he said he can’t effectively run an SF based company. My bet has been the company is moving to Charlotte and this is another step in that direction.

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Post ID: @1jli+11fdokUJ

Just read the BNY layoffs.com page https://www.thelayoff.com/bank-of-new-york-mellon

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Post ID: @1bir+11fdokUJ

He got it because no one wanted it. A promotion of sorts.

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Post ID: @1urv+11fdokUJ

So what’s new? Firings are already happening. Currently management cheats and lies. All that’s different is the flavor of the cool-aid.

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Post ID: @1ztf+11fdokUJ

Get ready for the firing... but before that, the complete k–ling of any morale and comradery. Expect lies, backstabbing and divisive behavior to begin immediately.

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Post ID: @1ied+11fdokUJ

I am scared. Being a full time telecommuter, already I was concerned after the tech townhall . Now this guy will probably end a really nice stint .

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Post ID: @1awh+11fdokUJ

Right he is nothing but scum like WF.

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Post ID: @usx+11fdokUJ

Here is your new CEO, look at him carefully:

https://media.bizj.us/view/img/3214291/charlie-scharf4193*750xx3976-2237-0-207.jpg

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Post ID: @rwl+11fdokUJ

epic: """Meanwhile, his very own activity (running financial organizations) is somewhat responsible for creating the misery he bewails. He's just one of many clever corporate rats who specialize in lining their pockets and the pockets of their benefactors. The don't care one wit about you, me, or this country."""

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Post ID: @sqv+11fdokUJ

LOL - so true

He's so committed to Wells Fargo that he will essentially manage it from his neighborhood in New York City
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Post ID: @xlg+11fdokUJ

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