Thread regarding Wells Fargo & Co. layoffs

Tim Sloan was a liar and voluntarily resigned because Congress knew he lied under oath. Have you even read the last published investigation report? It reveals internal emails between all the crooks. 2 people out of every 7 employees are getting laid off nationwide and in every department because of these crooks. Did you see his expression when Congress told him he needs to go? He looked like he was punched in the gut. It is not personal Tim it is business.

Sloan was way underrated.

If you check the GAL, dk is still listed, I think to moderate the scholarship he and his wife fund.

OP here: Is the answer, sadly, that Wells Fargo has not had one decent CEO in modern history?

Eight is Great was Kovacevich’s idea going back to his days at Norwest:

From a news article in 2017: It was Kovacevich’s idea to promote bank branches as “stores,” and bankers as “salespeople” whose job was to “cross-sell,” which meant getting “customers”—not “clients,” but “customers”—to buy as many products as possible. “It was his business model,” says a former Norwest executive. “It was a religion. It very much was the culture.”

So:

Kovacevich: No

Stumpf: No

Sloan: No

Scharf: Hale no

My intention was just to point out that my view has softened on Tim Sloan since we’ve been forced on to the Charlie train. Of the 4 Well’s CEO’s, personally, I still choose Sloan as the lesser evil. It’s all relative, and we each have different viewpoints. When my smaller firm was acquired by Wells, I felt like I was thrown from a backyard pool in to the ocean. Now, with Scharf, I’m thinking we are going to be forced to swim through the Bermuda Triangle.

Less like a bull shark, more like Rona.

Sloan was weak. Don't believe me, just watch a youtube video of Maxine Waters eating him alive.

Nope. Sloan was asleep at the switch on fixing all of the reg issues and just dug us in deeper on all the regulatory issues. All of that stuff about people - it was just pablum to make you feel better as he was steering the company further off the cliff.

Make no mistake about it, his ineptitude is why we couldn't find a qualified CEO to take the job and in the end, hired current management.

It all went to hell when D–k left and handed it over to John. Less Biller would have been a better choice, at least he was fun to drink with at corporate recognition events and anyone who ever experienced the D–k Jagger performance knew you were working with/for real people.
Nowadays we're just unnecessary expenses - they'll automate everything they can and not give a rat's a– whether it's the right thing to do. When "sh– happens" they'll blame bad data - not bad humans.

Dont forget that in 2018 under Sloan, he did announce that 5-10% of the company would be cut. What chainsaw is doing now as far as cuts, ultimately would have been done if Timmy was still here. Granted chainsaws might be a bit bigger overall.

Sloan definitely was more friendly and genuine. Problem is he and the board consistently told the regulators to pound sand and weren’t committed to just going balls to the wall to fix the risk and control problems. It wasn’t rocket science but they choose not to be focused on it. Now, that has led us to being taken over by bankers out of nyc no have been trying to penetrate WFC for years with no success.

So for all Timmy did, he let us down as look where we are now being run out of nyc by chainsaw and his inner circle. Now it’s a whole new ball game and cut throat environment. These new people have all the legacy leaders so rattled and that gets passed down the chain to the front lines so everyone is operating from fear and stress every day. It’s a total train wreck.

Yes. He was so genuine. I remember at one town hall a team member (we were team members then) asked “what if my manager does x” and he just said you email me personally if that happens. I knew a woman who did email him. Tim followed up and met her for 30 minutes.

Stumpf had a pea sized brain. Carrie was like nails on a chalkboard. Phony as hell.
Tim Sloan was different and i do believe too that he actually cared about Wells Fargo and felt the responsibility.
The merger with Wachovia was the kiss of death. Before that, WF was actually functional and issues were contained. I am not sure what happened after the merger, maybe the big merger inflated their heads and egos.
Charlie..., Charlie is what you get when you have decided the brand is dead

You know, I think you’re right! I have no idea what was happening at the top under Sloan, but he tried to give the impression he cared more about “people as a competence advantage”. From my perspective, as an individual contributer, the vibe was significantly better then. It’s toxic now. But I suppose that’s by design to get many of us to leave before being laid off to avoiding severance payments.