Thread regarding Wells Fargo & Co. layoffs

1. Get better lawyers and lobbyists and get out of regulatory hell (can't grow until it's done)
2. Deep dive look into a new technology leader from outside of banking...someone that knows how to structure an org to build digital products, not create a cartel
3. Enforce spans and layers and squeeze out the inefficiencies
4. Dump the Enterprise Technology leadership and instantly allow Microsoft Teams and Android support across the enterprise... I mean, how long does it really take?

1. Thank Bill Gates for not allowing my racism to result in me losing my board seat at Microsoft
2. Die my hair a whiter shade of white to pretend I’m Jamey Diamond
3. Cash checks and laugh at the one year or unquestioned incompetence
4. Keep hiring old worthless white men as favors while the board lets me have unquestioned spending and hiring authority
5. Wander Manhattan and enjoy how overpaid I am knowing how much of a incompetent leader I have been my entire career
6. Look for my next job since wells overpaid for my incompetent leadership and I will be gone once the asset cap is lifted.

• I'd invest in tech more than our competitors.

• I'd be transparent about layoffs.

• I'd stop nepotism.

some managers are hopeless and have favorites. Performancve review from them is going to be VERY DISCRIMINATORY == already witnessing that. Also isnt it ironic that Charlie is asking to be judgd after 2 years, but all his employees who didnt have the time to adjust to the new changes JUST WONT HAVE THAT LUXURY BECAUSE HE WANTS THEM ALL GONE NOW?

I’d probably pick up a new custom guitar - a nice 12 stringer to jam out in the next OC meeting.

Cut low margin lines of business, invest in technology, improve culture/morale, listen to employees and clients.

Regarding the ratings, the culture has a lot of issues but one thing it always had going for it (in tech) was that if you saw something wasn’t working you had the freedom to fix it without taking a hit on your annual review for review for not coding as many widgets as the next guy. If you’re going to start stack ranking everything and making it cutthroat, then that goes away. We had a couple people invent side projects where they would do anything but their actual job, Leaving the rest of us to do the boring work, and the manager didn’t address the issue, but it’s a small price to pay for working somewhere that people would collaborate on solving a problem rather than worry about what’s in it for them. Some parts of the culturw were actually good.

Good question, OP. You’ve gotten a few good answers. The best is from Post ID: @kou+17nqDU9w. , IMO, because it is a fresh perspective out here. And it raises a valid point about the subjectivity of performance reviews, especially if some will lose their job because of their rating.

BTW, totally life-changing to take the #s off the five review ratings🙄. That’s right up there with changing Team Members to employees. The transformation that is happening at the bank is truly cutting edge.

Do we need massive cuts? Yes. Is Charlie a good "cut guy", yes. Is Charlie over paid? Yes. Is Charlie capable of rebuilding company culture in a way that allows us to thrive moving forward? No.
At the end of the day, he will help to even out the balance sheet and retire in a couple years. He will also have destroyed the culture of our company. The long term impacts of a lacking culture will be devastating to our company.

Serious thought as a follow on to @zgy

Does a manager that gets a 1 or a 2 have any credibility to rate other people? A bad review is not automatically equivalent to bad performance. There are just so many bad managers, their reviews will be as worthless as they are and I say that as someone with a good manager.

I really think that besides saying something about the asset cap, what they really needed to do was a company wide assessment of managers. Then with fully qualified and good managers in place, roll out a real fact based performance plan starting Jan 1 but with training and communications in November. Then start weeding out dead weight.

get rid of dead weight and people who are obsolete staying in same roles forever

Cut all the dead wood at Wells. Everyone who gets a bad review gets a package and send the on their way.

Wells is not a charity it is a business.

cut 2-5% before year-end

Show some leadership and humanity to the 265,000 people who work for the company he’s being paid $36,500,000 to lead. It won’t cost him a dime.

I'd resign. ASAP.