Thread regarding Wells Fargo & Co. layoffs

@1eqk: I’m just going to take this one for OP.

You don’t need to be analyzed- it’s immediately obvious you are a simpleton.

Yea this place has turned into world war 3. Hope we don’t face too many more injuries:

Stay strong and hold your ground !

OP, we don't come here for your pompous analysis of our psyches, or your interrogations on our motives. Annoying!

@1pry brings up something to consider.

I have been part of a few mergers, and it gets ugly every time.

Managers especially compete for jobs and try to puff themeslves up, teammates turn on each other.

Similar to when someone dies and leaves a will with a lot of money in it.

People turn on each other. People get their feelings hurt.

Good luck everyone. Stay safe.

I don’t generally support the CEO, primarily because I am disgusted by the brand new roles he has created for his friends. And I don’t think creating a culture of excellence includes renaming things, stack ranking, fake performance objectives, or being smug and arrogant.

I generally think layoffs are needed, and I have no idea if that could include me. There is too much duplication of roles, too much oversight without purpose, too little automation, entirely too many turf battles and not remotely enough focus on the customer.

I am prepared for a lay-off, I advanced my skills and prepared financially. There are aspects of my job I like, but I am weighed down by gobs of useless paperwork and process edicts. I think my job would be better if there were fewer people around to invent nonsense.

OP back.

Hmmm... I did not get the answers I was expecting. Usually we have a couple of contributors who are anywhere from politely firm to angrily adamant about pointing out all the deadweight and bloat at the firm, and the need for layoffs. There’s always at least one that pops up who seems to want to contradict anyone who says anything negative about layoffs, the current uninspiring culture, or Charlie’s lack of leadership. Or some, who are inexplicably positive in the face of very few good signs. My take, which could have been wrong, is that these contributors come across as thinking they are safe.

I was curious to understand the psychology of an employee who supports layoffs at their own firm. But, in hindsight, I don’t think I asked the right questions.

Below, of the 3 who replied: 2 are not WFC employees, one friendly and one not. I think Post ID: @1pew+17lLB6Ga is an employee, and that was a great reply- thank you for that.

So! Part of me thinks some of the adamant lay-off defenders may not actually be WFC employees. That would reinforce my faith in the WFC team. Or, I didn’t ask the right questions. And there is also the possibility that some do not want to have to have to explain themselves.

Personally, I don’t care about WFC: I don’t think we deserve to be in business. But I do care very much about the employees. I’m extremely concerned that the “current single- minded approach”, which is aggressive cost-cutting and offshoring, is going to take the organization to a place where we can not recover. Research large companies who failed - such as Blockbuster, Circuit City, Sears (on their way) - they failed to innovate, and they underestimated the intelligence of their customers and their competitors.

Destroy customer service (that’s all we have to sell) and destroy employee morale: WFC will continue to see additional corporate blunders and bad PR. And shareholders have too many other solid safer choices to invest their money.

I don’t think we have unlimited years to try to get it right (some say “this is a marathon, not a sprint.”).
I think the time is now. This is our opportunity to get it right. This is a unique and pivotal time to turn the ship around, and Charlie is blowing it. He’s not shown himself to be the right man for the job.
And he’s going to take us all down.

Charlie has said something to effect that efficiency will not be improved with a sacrifice of controls and compliance and all the other organizational self-doubt and sleuth that has been created in the last two years. This could be like Schwab: multiple rounds circling around the drain before some kind of pared-down stability where the new WF is a ghastly resemblance of its former self. Charlie so far seems to lack courageous leadership. He’s not the kind of guy I’d take a bullet for, so far. It has taken too long for him to do too little, and worse I think his eye is on the wrong ball. Hope you’re reading this CS.

having gone through at BNYM what you will soon experience at WF ... run if you can. hunker down if you can't. be amazed by the cut throat atmosphere that will ensue. good luck.

they are long the stock

they have lost bigly and their but is sore from losing their a$$ so badly

they want you gone cause they only see you as an expense.

anything bad for you is good for stock.