Wells Fargo CEO, Chainsaw Charlie, has grand plans for the company. How do you feel about it?
14 replies (most recent on top)
I hope Chainsaw Charlie sleeps like a baby at night! I bet he does
Well I'm one of chainsaw's victims. After 25+ years with WF, I was laid off at 62 years of age. Never a bad performance review (end of year or mid year review). I just got too expensive for chainsaw's pay and budget (along with thousand and thousands of others that didn't work with chainsaw's grand non plan).
I saw ole chainsaw join the company in late 2019. He brought in all of his east coast buddies and began laying off people left and right (primarily people from the old regime with decades of tenure). Good ole chainsaw.
I've watched the WF stock price decrease over the 3 plus years he's been in charge (it's now just around the level it was before he got obscene pay for three years). During chainsaw's tenure, WF has it's first ever quarterly losses - I think two or three consecutive quarters. WF still hasn't regained the public's trust and now they have a huge internal trust and morale problem. But chainsaw doesn't care.
Check out ole chainsaw's career and how daddy got him his start on Wall Street ending people's careers while little charlie was still at meager John Hopkins U. He's a great ole hacker. Is he realted to Charles A. Scharf (check out his books).
Why is chainsaw charlie getting paid so much money for a pathetic performance? Compare WF to it's competitors if you want. Do me a favor a Google "Worst companies for career" and then look at the list under "What are the most hated companies" - WF comes up third on the list - tied for second highest score.
His grand plan is to cut - that's it, period. No new business, no better trust in the company, just cut, take his bonuses and payout and run away to the next victim. . It's time to lay this loser off - karma time!!!
Chainsaw Charlie it at WF for one thing to line his pockets, the best why to cuts is to cut people, trim the fat hardly it is deeper than that. He has driven the stock down 50% while hiring is buddy with stock, they get it back up and poof bye bye Charlie.
You guys don't understand Charlie's tenure at BNYM. BNY's culture wasn't like that when Charlie got there. That was the culture became after he got there. He's a paid hatchet man wherever he goes. If you look at his resume, it's his reason for being. Go in, do a mass chopping, bring in new management and processes while taking in all the liquefied hate, get out, and make things roses for the new guy.
Just sit and wait around for the severance. I've never heard of anyone getting "fired" here. They may take your bonus, but you'll still have a job.
The culture here is toxic for sure not sure how bny could be worse.
This place is a horrible place to work prob worst place I ever have. Come work here is you like a lot of pain.
But like the person below said the best thing about working here is there is plenty of time to find a new job For sure .
And to the person who spoke on nervous they should be. I myself am hearing to a higher paying position
Agree with below. If there was actually anything to discuss it would be different. But at this point there is nothing to do but wait and share whatever information there is to share.
Yes, he will make changes. He has to. What form those changes take and who they affect remains to be seen.
Stop trolling and posting things just to stir up trouble. Wells employees are enough nervous and fear mongering is just mean.
The culture over BNY is absolutely atrocious. If Charlie was not able to change that while he was there, what do you expect for him to do here, besides get rich?
He will just continue to layoff and try to get out of the federal reserve cap. Try is the word.
Check out BNYM's posts for the last couple of years. That's about what you can expect from Chainsaw Charlie.
The best part of working here is there is plenty of time to look for a new job!
I’m sure he does have grand plans for the company. Just like every incoming CEO does. Whatever they are, this poster has no f’ing clue and is just on here to see how many angry people he can get riled up. Don’t assume that his grand plans are to lay everyone off, do away with the marketing department, “break it up”, or ship all 260k+ jobs overseas. Anyone looking at this right now should spend their valuable time doing more productive things.
Hard to say - considering we have no idea what those grand plans might be.