Thread regarding Wells Fargo & Co. layoffs

I do not know JP but want to offer up some defense for her, having worked here for probably too long. It’s nearly impossible to force change on upper leaders. Best example is Charlie “Do as I say, not as I do” Scharf. We have a lot of arrogant executives who think the rules should apply to someone else, not them. Again, some chauvinists that have no plans on letting a woman tell them what to do. And some know it all’s who think “it’s their way or the highway”. Maybe a couple of them on this thread.

I know several top notch highly qualified people who were brought in to the firm to be “agents of change.” Try as they might, they were quickly bullied/ignored/ganged up on. True fifth grade behavior on the part of our leaders.

So let’s not pass judgement until you’ve walked in someone’s shoes.

Little surprised by the people that think j.p. Should have been given the job instead; for what reason? She clearly didn’t do a very good job as the leader for that space so why not bring in someone new? That’s what they do with everything else except she at least kept her job.

These D&I “jobs” must be the lowest stress positions ever. Sole job is to rub elbows and make everyone feel included. Coddle them. Wine and dine “segments “ and make you think WFC cares. And Santiago makes millions being an OC member. Lol! Where do I sign up

Haha @hpf Exactly and I suspect it’s bc CS opened his mouth and inserted foot so he is over compensating for his own error. While we get stuck with that bill, S&L is taking down our peers that most likely have ZERO to do with why we are in this situation. Then people wonder why morale is low and people are bitter. I’m happy with my job and working hard but the company’s problems p*$$ me off.

The new leader is Hispanic, ex-McKinsey, ran a multi million dollar P&L, has two masters degrees and is tri-lingual.

How is that not hiring qualified talent? How many existing employees in the current D&I team have similar qualifications?

C’mon people.

Shouldn’t the question we be asking is why does this role even exist?

Jimmie should have gotten the job IMHO she has been the leader internally for this - so instead you pick some dude that checks the box vs a person IN THE COMPANY who has led this.

I feel better knowing that our internal talent can do nothing.

Agree. It should have went to Jimmie Paschall. Chuckie doll still hasn't a clue.

That sound you hear off in the distance... choo choooooo

That’s the sound of the executive paycheck gravy train

Some of you folks are the reason I have to take D&I training every year.

Thanks. Thanks a lot.

And it seems some of you aren't paying attention in D&I class.

Also, grow up, D&I is a good thing, you do not lose any of the pie because the pie is a never ending desert, there's plenty for everyone.

I'll take a stab at answering the question about why JP wasn't "promoted". If you look at her background, she has never been a general manager/responsible for a P&L. Both for this position and the D&I leader that M. Mack just announced, they are high-level P&L leaders - they have run businesses. This is a different model than prior WF (and many other companies) that hire "staff" function leaders that have never had line experience.

Then there's the cold hard fact that during JP's tenure, the company has not progressed at all on the quantitative dimensions of D&I. So if results matter - they're not there.

I think some people are rationalizing, here, saying that someone would complain no matter who was hired. This is true, I know. But it misses and dilutes the significance of Charlie’s hiring pattern.

The point is that Charlie has established a pattern of hiring white men. This gentleman is Latino, so that is a small gold star in Charlie’s favor.

However, he was just criticized for stating publicly there is a “very limited pool of black talent” to hire from. You simply can not tell me there was not a black or female executive qualified to lead DIVERSITY AND INCLUSION. He is, for the most part, sticking with his same hiring pattern. The guy is completely tone deaf and lacks self-awareness.

The most intelligent question was by asked down below:

“Can someone please let me know why Jimmy Paschall wasn't "promoted" to this role. It seemed to be tailored for her and would have lessened if not eliminated employees questioning who's coming into this role and why it's being created.”

Another important pattern that everyone here should be paying especially close attention to is that our new CEO apparently doesn’t think much of any pre-existing Wells Fargo employees. He only hires from the outside. Cleaning house at the top is understandable, but it does not mean there isn’t talent in the lower ranks who deserve to be looked at for promotion. Don’t just pay attention when a certain act of bias affects you, pay attention to the overall pattern of prejudice unfair actions .

Who said diversity doesn’t include women? Educate yourself before you start blabbering nonsense.

Men continue to put mostly men in leadership positions. In our large department, we have 10 Managers. 8 are men and 2 are women. One of the SVPs has said that men should be given a preference when hiring because they are supporting families. I think he views women as “working to support their shopping habits and getting their hair done.”

Banking is still inherently s-xist. The financial industry is predominately white and male. It is still a chauvinist boys club.

The best person for the jop should get it .. White, Black Asian.. Female, Male whatever..

qualifications over anything else!! period.. .

Can someone please let me know why Jimmy Paschall wasn't "promoted" to this role. It seemed to be tailored for her and would have lessened if not eliminated employees questioning who's coming into this role and why it's being created.

@yls: The diversity and inclusion emphasis is based upon US Federal and State labor laws. However, as the firm moves thousands of US jobs to India, the firm is only required to meet the labor laws of that country. It will be the discretion of the firm to implement D&I abroad in other countries.
Moving jobs to India is a way to get around D&I altogether!

@yls not sure what diversity training you are taking but the one I had certainly covered women in its training. I agree about the bias though, but that was not my point. My point is that so many of us seem to want diversity and can support that concept until a candidate is actually selected. Then we often see pushback because a particular diverse group was not represented for the latest selection. We can’t expect to be able to genetically engineer a male/female/transgender who is part black part Hispanic part Asian and whatever other parts you might want to throw in there. It just doesn’t work that way

As a shareholder and employee I am now convinced the BOD is as dumb as the CEO. Hemorrhaging cash and they keep padding the overpaid execs....

Women aren't considered part of the diversity training and empowerment. Even though the cultural bias against women in the US and India is severely negative.

So if a white woman was selected would you be complaining that they didn’t pick a Hispanic or African American? Would it help if he became transgender? Tired of people complaining about no selecting the “right” diverse person. Guess you got to complain about something.

In the middle of "expense reductions" so Chuckles thinks it is a good idea to create a new role at the "Chief of [D&I]" role, while there is already a Head of D&I. Why in the world is the BOD approving this role? How many jobs could gave been saved by not hiring this man for Chief of D&I?
BOD needs to apply "spans and layers" expense reduction at executive level.
D&I will not matter if there are no jobs left as Chuckles is destroying the firm.

18 total Senior Leaders. 5 are women.
13 total on the Board. 3 are women.

And he came from that sh– fest Capital One. Says a lot about Capital One for him to leave there to come here .