Thread regarding Wells Fargo & Co. layoffs

Our New CEO Continues to Pit Employees Against Each Other

What kind of CEO comes in to an already struggling organization and sows the seeds of conflict within his team?

  1. His decisions have pitted lower-waged employees versus higher-waged employees (arguing about the fairness of earnings levels separating who gets a 401K match and who gets a pay raise?)
  1. He is pitting longer-term employees versus newer employees (only hiring from the outside for top jobs, basically saying he thinks that all employees hired before his start date are tainted by prior management.)
  1. His “very low pool of black talent” comments created racial conflict. His preferential hiring of male executives versus female executives continues the history of bias against women in the finance industry (rough estimate 80% new execs are men).
  1. He has pitted East Coast employees versus West Coast by seemingly moving base from San Francisco to New York. “All the talent is in NYC.”
  1. Sowing general conflict with increasing the number of layoffs from previous numbers of 10% to his numbers of 25%. Employees are battling over sheer survival. “The old-timers need to go!” “If you don’t like it, just leave!”
  1. Sowing mistrust between employees and management. Charlie’s evasive lack of communication has everyone questioning who knows what. Employees don’t trust managers for what they might know but aren’t saying. Managers may or may not know, but they have to keep you working and not asking too many questions.
  1. Which businesses are considered core versus non-core? Employees are arguing which businesses deserve to stay versus which business aren’t profitable enough and should go.
  1. Creating a distinct class divide between senior executive team and the general workforce. “I, the elitist white male CEO, deserve my pay of $36,4000,000. And I am creating new high-paying jobs for those who deserve to share in my fortunes. However, we are supposed to be cutting costs, so 25% of the commoners must go.”
  1. The Charlie-supporting Yes Men (Corp Comm) versus everyone else. “He’s doing what he was hired to do! I’m fine with it as long as it affects everyone else but me.”

A good leader is someone who leads by positive direction and build agreement among it’s group members towards the accomplishment of a coordinated goal.

by
| 2500 views | | 10 replies (last November 7, 2020) | Reply
Post ID: @OP+17MCqyOh

10 replies (most recent on top)

He’s a privileged id–t and a racist. The board of directors must be so proud of this worthless POS.

by
| | Reply
Post ID: @2dze+17MCqyOh

OP, you said it perfectly bubba

by
| | Reply
Post ID: @1bjq+17MCqyOh

He's not sowing anything on purpose, he's just not a good manager.

And he wasn't brought in to be a good manager, just to do the nasty work no one else wanted to do.

by
| | Reply
Post ID: @ykd+17MCqyOh

A poor leader is bad for everyone: the employees, the company, the shareholders.

A poor leader slows down productivity, loses forward momentum, impedes employees’ creativity, lowers motivation, creates a toxic work environment, causes higher associated costs with turnover and training, sows distrust within the organization, stagnates growth and may very put a company out of business.

by
| | Reply
Post ID: @tya+17MCqyOh
  • in war-torn countries.
by
| | Reply
Post ID: @ecq+17MCqyOh

divide and rule. always works.

by
| | Reply
Post ID: @ulb+17MCqyOh

My prior firm (acquired by WFC) used to hold wonderful Leadership Training Courses. And not just for leaders, but to build future leaders from within the ranks. The leadership qualities which they sought to inspire were:

Honesty and Integrity, to develop trust
Envision a good future for everyone, not just for yourself
Vision, and the ability to articulate it
Fairness, treats everyone equally
Flexibility
Optimism, sees opportunity where others see adversity
Accountability
Humility and sincerity, gone are the days where arrogant leaders command respect
Passionate, and can ignite passion in his employees
Strategic Planning, one of the most important leadership strengths
Effective Communication, to explain succinctly company mission and goals
Team Building, compels employees to work together and value each other
Leading by Example, they walk the talk
Inspirational, inspires trust and motivates team members to become their best
Creativity and Innovation

No leader can possess all of these qualities, but I think we should be getting at least a few for $36,400,000.

by
| | Reply
Post ID: @myp+17MCqyOh

A good leader does everything he asks of those he commands.

by
| | Reply
Post ID: @lif+17MCqyOh

Cc the board

by
| | Reply
Post ID: @aml+17MCqyOh

Well said

by
| | Reply
Post ID: @kyn+17MCqyOh

Post a reply

: