Thread regarding Wells Fargo & Co. layoffs

@ 1lgt+16ZR4Cue

Thank you for the update. Will go to mobility and check it out.

I have internal and external partners worldwide. I always wondered why a majority of the recent and future meeting invites I received lately had Skype listed instead of Intercall/West UC bridge line.

Like you said, I can barely hear them on Skype. It always sound like cracking, echoes and pops. Like they are speaking in a wind tunnel.

Where can I go to find the updates/changes to the Audio bridge lines? I really don’t want to lose mine.

I work in tech and partner with Wholesale/WFS/CIB.

Charlie didn’t create the mess. He took the job no one else seemed to want.

No direct communication has gone to employees about mobile devices. They started with tech people, and then BYOD only starts Jan 1 for the rest of the bank and rolls out over time. You can look at the mobility site in the tools part of teamwork’s.

The same thing is happening to tech on audio bridge lines. They were told to stop using them a couple weeks ago in favor is using Skype through your laptop, the audio is awful. This will come to the businesses soon. It’s stupid, and has created a lot unproductive time, especially with offshore teams who sound like they are underwater on these calls because they don’t seem to have headsets for their laptops and apparently the bank is declining to pay for them.

@ dow+16ZR4Cue

Wait, what did I miss?

“Those salaries are being paid for with money no longer funding mobile devices, audio bridge lines, headsets and condolences flowers.”

Mobile devices? Actual corporate iPhones are no longer covered? What about corporate WiFi jet packs? When did this all go down? Was my manager supposed to tell me? Was an email sent out or a posting internally that I must have not read?

Audio Bridge Lines? Conference Call Lines? How are we supposed to conduct audio meetings with internal and external partners for projects? Not every meeting requires video?

Headsets? I can’t have a headset? Mine is beyond frayed and the ear muffs fell off. We have no Administrative Assistant, so who is supposed to order these? Our financial guy quit and went to work in healthcare, so there is no monthly budget meeting or review.

I swear I honestly find out more on this site than from my managers and team. What the heck is going on here?!?!

Any info or direction to a post internally or a date of an email would be helpful. I dare not ask my direct manager and feel his wrath and him lash out for asking a question that makes him more paranoid than he already is.

I’m watching a made-for-TV movie (Love to K–l). There’s a black-widow murderous who marries rich men and then k–ls them, making it appear like a natural death. She then collects the inheritance, changes her identity and moves on to the next dumb wealthy guy. Along her way, she also murders anyone who questions her intentions. So now she’s on to the 4th rich dumb guy, who happens to have a lifelong loyal friend. The lifelong friend keeps trying to warn him that something isn’t adding up about the new pretty wife. He starts getting impatient with his lifelong friend, and defends the new wife who is robbing him blind in the background and plotting his death. He tells the friend to stop questioning the new wife, she shouldn’t be so negative, she needs to accept the changes, and if she can’t accept the new wife- then she needs to leave. At the end of the movie, of course, the lifelong friend saves the rich guy‘s life and he apologizes for ever doubting her.

I thought to myself: Huh! I think I relate to that lifelong friend regarding what’s happening at work right now. Charlie is the new plotting murderous wife. Half the employees can see right through him, can point out exactly how things are not adding up and are telling people to defend themselves. And the other half appear to be blind to what is happening right in front of them, make excuses for him, and are questioning the lifelong friends’ intentions.

In our Wells Fargo story: I am predicting the ending will be that there’s only one survivor, Charlie Scharf the black widow, walking off with the inheritance and on to the next wealthy husband. And we’re all going to be left picking up the pieces.

It doesn’t matter who came in they needed to cut the bloated whale carcass into something manageable.

Misplaced for sure. He is a machine hired to do a job others were unwilling/unable to do and fix problems others created. I see MASSIVE bloat at this company and I'm just a lowly sales guy (makes good money but has no direct reports). The amount of people that hate their job, pass the buck, leave early, find excuses, etc is staggering...I've never seen this level of laziness and self-loathing at any other company. This TITANIC needs to steer clear of the iceberg, but one person or group can re-direct it. It takes a gargantuan effort (cultural change)...we can all do it if we consider the end goal: serve clients and grow.

I think it's okay to have some anger at just about everyone right now.

Scharff, Stumpf and the other execs and managers who knew and looked away while crimes were committed because those crimes were good for their stock options, the virus.

I used to work at a place that was pretty intense, a fun job, but intense at times, and when things got too gnarly, there was this one guy who would say this:

"Okay, on the count of three, everyone yell F' k as loud as you can, and get it all out of your system".

It was a shop environment, not an office, and we were all friends, so you could get away with that.

It worked every time. Try it if you get a chance.

You'll feel better.

Hey we rate people on accomplishments, lets see who did what and assign a proper rating; no freebies!

I really appreciate this post. It feels post-apocalyptic here. Some people carrying on like life is normal, hoping it’s someone else who’s going to get shot down by the drones. We are the most well-behaved group of people waiting to see who gets taken out for slaughter. It’s an interesting social experiment for sure. I think people are afraid to speak out and put a target on their back. Lambs who are silent before their shearers. Or they hope to be saved if they support those in power, whether those people in power deserve support or not. Every man for themself, right? People need their jobs, so I understand, but I do wish more people would support each other and speak out. Thank you.

The thing that I find most annoying is the creation of brand new jobs that create layers of overlapping executives at the very top. You want to bring in new talent to run businesses, OK. But net new jobs for COO under the COO, CAO under the COO, or a public affairs officer, or a chief policy officer.

Those salaries are being paid for with money no longer funding mobile devices, audio bridge lines, headsets and condolences flowers. Frankly I’d rather have all of those things than another executive to spout nonsense on the flavor of the week cultural concern.

You should not be angry at Tolstedt. She walked away with millions in severance from WF. So obviously she was doing a great job.

@OP you're upset at Charlie because of the uncertainty around your job. That is natural.

He is doing his job though, just like you do yours.

Yes, it absolutely s—s that he's paid so much, but so are other CEO's. Yes he's a privileged little sh– who brought along other privileged little sh–s, that's life.

Charlie didn't cause this scenario, though he obviously made it worse with the 2Q results, intentional or not.

Is it helping you to be mad at him though? Yes, it's part of the grieving process, but it's also toxic if you hold on to it. It's better to move on to acceptance of the situation and plan for the future.

I myself tossed out about six resumes last night. If I'm laid off the timing works out and I can maybe start a job right as my warn period finishes. If I'm not laid off maybe I can wring a raise to be retained. Being angry doesn't help, use it for the proper kind of motivation.

This is called "Corporate America". Get a grip or get out. It's very simple.

It’s a good point. He’s got an unpleasant job to do, and it’s clearly a niche for him. It has to be done to save the company, but it’s natural that all of us would resent him. No one is wrong for those feelings. I do think he could do a better job of trying to connect to the workforce here rather than making us feel like branded cattle.

I hear ya. Many will say “it’s common for new CEOs to bring in their leadership team”. I get that. The one thing I can’t get past is hiring J Dimon’s son in law. No announcement on teamwork’s. Haven’t heard or seen one article from him on Teamwork’s. He reports directly to the CEO of one of the worlds largest banks. WhT does he do?? What’s his plan and strategy? Shouldnt we be hearing from him? In our current state, wouldn’t one think it would be important for the company to hear from him? Nothing against him. But that hire there And how it went under the radar for obvious reasons says all you need To know about the Current leadership in charge

not misplaced IMO; he comes across as smug, arrogant and uncaring.

You said it perfectly:

"There’s something about an individual that demands $36,000,000 to come in to a company and do it’s dirty work, laying off 50,000 to 60,000 workers. Making a fortune off the backs of others. I don’t think anyone with a soul, a conscience, a heart can rationalize that. And part of it is that he that he has been so ruthless, non-communicative, and hidden through the process. A snake in the grass."

Great post OP

So why am I so irritated with Charlie Scharf?

Charlie is just a symptom. He's openly demonstrating all the ills that were plaguing us for a decade or more. It's OK to feel this way as long as you understand that he's a symptom (the causes are hidden in a series decisions made over long period of time)