Lay-offs at Wells Fargo means 60,000 innocent employees are going to pay for the sins of our senior leadership.

Lay-offs are an inevitable consequence of market economics, but let’s be clear: the lay-offs at WFC have less to do with competitive forces and are much more a consequence of poor leadership. The result is that many will end up paying for the sins of a few.

The truth of our situation is that the thousands of people who will lose their jobs are having to bear the responsibility for the fraud and greed carried out by our irresponsible senior leadership. The fault has been with management, not the employees.

I work with experienced and knowledgeable people in my department. These are people who have given much of their heart and soul towards their work, trying to serve our customers with outdated technology and the ever-changing whims of a privileged out-of-touch C-Suite. We have mature team players and up-and-coming younger contributors who all work together for the good of the organization. Laying off 1 in 4 employees on our department of 100 means that people who do not deserve to go are going to get handed their walking papers. And a lot of knowledge will be walking out the door with them.

For the most part, I don’t see employees who need to raise their level of performance. I see employees who deserve better leadership.

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I think someone on this thread has multiple personalities, and they're not getting along.

Post ID: @mbj+17iQc341 and Post ID: @vkt+17iQc341 are either trolls or (hopefully not) newer employees who just get their kicks out of shaming existing employees. Their ignorance and arrogance is reflected in their words.

We can all go on to get new jobs and be fine. But they will still be ignorant and arrogant.

Regardless of our past sins we are a bloated and inefficient organization. If past leaders actually invested in technology like they should have 60k would have been gone years ago.

The people who committed fraudulent accounts are the problem too they should be in jail.

Analysts have been saying for years that WF's expense ratio was too high. But those fake sales numbers meant there wasn't as much scrutiny applied as there should have been. ("They must be doing something right" etc.)

So many things to blame leadership for, and that's one that really sticks in my throat. They didn't didn't do enough to control expenses in all those "good" (or, fake good) years. Now unemployment is 10% and we're in the middle of pandemic and huge cuts need to be made to survive. I also really resent their failure to invest in the technology stack and infrastructure, but I'll save that for another time.

Innocent? Not really OP. No one forced anyone to stay at WF when the scandals were going on nor when they came to light. Those who stayed reinforced support for an organization that institutionalized criminality. People who had a conscience and an ounce of integrity would have fled so as not to be associated with WF. The ones that stayed are no better than prostitutes.

@tue+17iQc341

You don’t deserve to get laid off. You deserve to get fired with nothing. Wells doesn’t need people like you. You are the problem

@tue Misplaced anger much? YOU are the toxicity at WF. No accountability at all.

Elizabeth Warren made WF execs and other management act corruptly and unethically? She caused scandal after the scandal at WF? Seriously???

Grow up and get the heck out. So sick and tired of immature losers who are delusional and dishonest.

Wells does RIFs poorly or not at all. At least half of the people who will ultimately be laid off are poor performers or work at a branch that is closing. The other half, maybe you’re right, or maybe I’m an optimist still.

Deal with it. If people do not like it they can vote with their feet.

People work here because it is a secure, well paying job that allows you to work from home and do little.

There is a line miles long of people who want to work here. Similar to Amazon Warehouse jobs. If it was so bad, nobody would be waiting in line to get a spot.

From your keyboard to the lords ears

Thread regarding Wells Fargo & Co. layoffs

Lay-offs at Wells Fargo means 60,000 innocent employees are going to pay for the sins of our senior leadership.

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