Thread regarding Wells Fargo & Co. layoffs

OP: Lets give you an opportunity to prove your point. You say Charlie’s comments are ok once you see the entire memo and they are not taken in a vacuum. And they are ok when they are taken together with his discussion regarding the asset cap. Honestly I never saw the full memo back in June, so I’m assuming you have it in front of you. Would you feel comfortable posting whatever you deem necessary for us to not take his comments out of context? I would be open to reconsidering my level of displeasure.

@bpp+175ZvdGF Deflection; that's what they like to do.

@huj yes he can do all of those things for a black hire but the bank is under an asset cap. I know it’s been around a while but we cannot forget that. Say he does provide an opportunity to an up and coming black executive first make sure it’s me but second if they aren’t up to the job or aren’t given the time to grow I doubt the regulators would give a pass because diversity.

His comments were wrong in a vacuum but when you consider where the bank is and how one wrong hire can set everyone back another three years it’s less offensive.

I’m not trying to silence anyone . All I’m saying is we wanted transparency and communication but when we got it it was leaked. That doesn’t seem like the way to keep communication open

I'm also a Black Man: you should look up how Charlie got into the C-Suite, it's on his Wikipedia page, but I'll save you the trip; while he was in college he had a family connection to Jamie Dimon, who received his resume and basically hired him as his assistant straight out of college. I don't know too many blacks men or women with these types of connections, if that's what it takes to get to the C-Suite then there's no wonder there's a lack of qualified black candidates. In essence Charlie and people like him are the reason there are so few black executives in finance. He could take a talented black individual and groom them to the C-Suite, but he's busy returning the favor to Jamie Dimon by hiring Dimon's son-in-law wherever he goes and making sure he's set up to succeed

OP: I want to soften my reaction a bit towards your post because you are a black man, but it might make me question your intentions even more. I wonder why you are trying to intimidate people in to silence. “If you speak out, there will be punishment. So now Charlie will stop communicating and the axe may be coming down a little heavier.”

And no one waited 3 months to “leak it”. It was posted in the Charlotte Observer back in June. Maybe someone in the press just picked it up and ran with it. I don’t think it’s fair to accuse anyone of trying to “stick it to Charles.” You have no proof of that. They repeated his exact words and let the public interpret them either in support or protest. Would you accuse a witness of a crime of trying to “stick it” to the criminal? I guess you would if you were on the criminal’s payroll.

I, personally, find it it dubious when people get defensive when the truth comes out. Or when people unwaveringly stick up for the boss who’s signing their paycheck, no matter the boss’s actions.

@oqe+175ZvdGF If Chainsaw is so capable why did he mismanage the 2Q so bad?

Justifying his saying there's a lack of talent when he showed a lack of talent himself is amusing to say the least.

He Chuckles admitted it was insensitive and biased. I am sorry but I was terribly offended and still am and will not make excuses for his biased statement. He is a rich, out of touch white man who has his mind set on the white men's club only.
Yes, minorities should be offended.

@dfg what’s the difference between a token hire and providing african americans opportunity?

OP here and I’m a black man. Wells Fargo is under an asset cap that is making it nearly impossible for the bank to grow and makes it to where every executive hire is under a microscope.
Racial discrimination has made it to where there aren’t a lot of black people with experience at the executive level therefore there aren’t a lot of black candidates for a bank under scrutiny to hire from . If the head of wholesale banking was hired with no experience do you think the regulators would say “oh that was a black candidate. Charlie is giving them an opportunity we will let it pass” .
He specifically alluded to that in the email but that’s not being covered. He didn’t say he doesn’t believe there’s talent or black people aren’t capable of doing the work, there just aren’t enough people with the qualifications to take the positions while the bank is under the eye of every regulator.

If the person who leaked this thought it was so offensive and racist then why did it take nearly 3 months for it to leak once the layoffs started? We knew what he meant and we know that this is a hit job .

@ocb, can you blame them?

Fyi-OP, your comments are now public as well. They speak directly to the culture in parts of Wells Fargo: Management through subtle and sometimes not-so-subtle intimidation.

Don’t worry, OP. Your entire post will be out there, so you won’t be able to claim “your words were taken out of context.”

1. The quote is not “old”. It’s Summer 2020.

2. It’s not “taken out of context”. They are Charlie’s words verbatim. The news is accurately reporting that not all meeting attendees were offended. Please explain to the community where you think they are misinterpreted. I am a white woman, and if he said the same words about women: I would have the same reaction.

100. Once again, someone within Wells Fargo (here, it is you) is misplacing the blame. Once again, a Wells Fargo CEO is not being accountable. You are attempting to place blame on the employees for exposing Charlie’s words. Reminds me of Wells Fargo firing Whistleblowers for having the audacity to speak up.

500. Your post is incredibly patronizing. “Look what you did, kids. Now you will be punished.” I’m betting you would have tried to guilt women, who were fighting for the right to vote back in the 1920’s, in to going back to being submissive and cleaning house.

I want to send a major thank you to Charlie for his discriminatory quote. Not because I agree with it because I don’t. Rather because it may help me in meeting my complaints goals.

Everyone has unconscious biases. Black and brown have them about whites too!

@udc, it was a racist statement. What don't you get?
There is black talent out there. He just doesn't see them fit in the roles due to his blatant racism. Yes, it's a lie.

He just put a statement out on teamworks admitting his bias and pointing out his "tokens".
White folks make me laugh.

@fun+175ZvdGF

So what's the argument here? If 13% of the population are black, you want 13% of the staff to be black? Statistically it makes sense but how do you know he's wrong? I get that BLM is an important and much needed discussion but you can't just boil the ocean because it suits the current political climate.

He's a joke and blatant racist.

But we must embrace candor, candor, candor....