You can see the priorities under this regime. Hire a bunch of overpaid executives and your friends to give the impression that you are fixing the place. Meanwhile, Compliance can’t even get vital backfill positions approved, so they can keep the lights on, never mind do the remediation work. Unbelievable!
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Heavily compensated people in the way of stock options and restricted stock. Get all of your buddies in while stock is low, drive it up quickly through expense cuts in the way of layoffs, cash out. Is WF inefficient? Yes. Do we need to probably have less layers and spans? Yes. But bringing on everyone underneath the sun that worked at JP, including the CEO of JP’s son in law, just makes me sick to my stomach and is unbelievably hypocritical
"Substantial" is an understatement...
Love, Your Friends at BNYM
They know there’s areas of compliance that are busy and areas that aren’t so even if there’s not layoffs the deck chairs will be reshuffled.
Compliance cannot backfill roles because substantial layoffs are coming to WF...