A dozen or so years ago when I started at Wells friends and family said "oh, nice, that's a very well run company".
Some of the folks in my family and friends circle are C level exec's.
After a few years I noticed that upper management didn't really seem to do anything, but they sure did re-org a lot.
I suspect that the constant re-orgs hid a lot of the bad management problems, and Wells managed to fool the street and regulators.
The location strategy is a half baked idea from a new guy who did not take the time to understand the environment, and who seems to have some very 1995 ideas on how people work together.
I expect to be let go sometime this year, I'm good with that. This is one very backwards company in many ways.
It's still too big too fail, it's not going anywhere, but wow, what a shame, a place like this could have been world class.
Originally posted by @12Vz4Sb2-sbm.