Thread regarding Wells Fargo & Co. layoffs

What CEO must do to save this company

I agree, there is no reason to like CS. And I do not think a single employee likes him with exception of his gang from JPM and BNY. But as a Share Holder and employee I think there is light at the end of the tunnel. I believe that CS will clean up most of the mess caused by previous admin. If he completes the 10 points below, IMO the stock will triple by end of 2022 and WF will strive for many decades to come

  1. Asset Cap is lifted by mid 2021
  2. Dividend Reinstated by mid 2021
  3. Buy Back 20 percent of Outstanding WF shares in the $20-$30 range.
  4. Lower the Employee head count by 20 %(worst performers) to be in line with other top 3 banks
  5. Exit lines of business that are least profitable.
  6. Increase the Budget in Technology by 25% and hire the new H.O.T who really knows what they are doing.
  7. Move the H.Q from SF to Dallas or NC to save on State and city Taxes(billions can be saved annually)
  8. All non customer facing employees to work from home(close or sublease existing corporate leases: Billions saved annually on office Space)
  9. Hire Elizabeth W****n as the new CFO: joking. Maybe not :)

10 Retire after the top 9 points are successful complete.

by Anonymous
| 1226 views | | 4 replies (last October 30, 2020) | Reply
Post ID: @OP+17GzulCk
Comment! It's anonymous!

4 replies (most recent on top)

I think the new management has to partially blame itself for going on a hiring spree at the top only to remove the worker bees. That is why it is taking so long to fix grassroots problems.

I have seen a lot of very good people even today In Wells . Anyone hired in the last 5 years is untainted by the scandals. Rather than go out to hire we should elevate more from within. Otherwise you are alienating both the new and the old guard.

by Anonymous
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Post ID: @ssn+17GzulCk

Decent list. SF should stay the HQ, its the Tech Mecca and that's where things are pivoting and the brains are there, not NY, not Dallas, not NC.

by Anonymous
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Post ID: @ids+17GzulCk

1,2,3 won’t happen by mid 2021.
4 will happen 20-25% layoffs
7 - hq moves to NY, only 4 of chuckies Lts are not in NY.
8 makes sense but they have a workplace strategy to bring everyone into the large centers.

  1. God help us if that is the case.
by Anonymous
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Post ID: @bku+17GzulCk

I don’t disagree with your list, but what have you witnessed in Charlie In the past year that gives you any confidence he can pull off even one of these items. So far, I have seen a whole heap of nothing.

by Anonymous
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Post ID: @ysl+17GzulCk

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