and his HR man Mr. Wally World David Galloresse clearly don’t understand incentives. When team members do well the business does well. I think they’ve confused us with Walmart greeters. These clowns can’t even do basic math, why would want to make 250-260K if you’re ahead making 249K with the 401k plan structure. Also moving from a quarterly match to a yearly match and glossing way down in the language is not how you treat team members aka a business partner, you make a big change like that you call it out and explain it in detail.
This place already has a big problem with people checked out for years and not performing. You know what drives this company things like sales, hard work and effort. These guys are essentially creating incentive structures perfect for people not to perform. Charlie and David both need to be fired, they lack intelligence, don’t understand human behavior, don’t know how to build rapport and know nothing about relationship building. We’re paying Charlie $34.3M for about like 6 D&I video’s a year, or about $5.7M a video. I don't even mind that he gets paid that, what i do mind is he doesn't live up to the price tag at all.
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Someone in HR has to be fired over this non-decision. Just saying.....too much amateurism.
Galloresse clearly lacks experience for his role. In over his head. Ask anyone in HR.
I can’t believe the incompetency of Galloresse & Scharf. Who was making the 401k decision and the next day you change what you just did. A lot of employees were giving you guys a chance but now you just proved you don’t know what your doing. Hey board of directors start looking for a new CEO!
He is also the champion of Idiocracy. Attaboy Charles – nice job contributing your insights as a world-class id–t.
Amen brother, we won the battle today, the war continues. Let’s pop a cool one tonight and drink to that, cheers!
Wait until you get his holiday letter! Especially the part about him rolling out his plan for next year. He’s a poor CEO and you can be sure to vote your displeasure at the annual meeting next year. Halving the stock price since he arrived and the board just takes it like the chumps they are. Vote them all out!
Its like having 10 employees, 6 of them work 14 hour days and k–l it, and the other 4 play table tennis all day and fake it for the year. Currently this company feels justified to dock all 10 people's salary. End result is those 3 of the 6 leave after a year, leaving 3 good employees and 4 people who don't perform and 3 new ones who quickly learn its OK to act like the 4 checked out employees. The cycle repeats. Soon all the winners run off and they tell other winners to not work there.
With The update to 401k, it came out to about $1 Billion in savings per year. Since there are about 10 percent(27k employees) of people who are making 250k or more and with a max of $17.5k match, if that was eliminated it would save the bank half a billion. The other half a billion would come from laying people off before Dec 15 since the match would only be deposited once a year annually on the last day of the year.
I agree. The only things Scharf has done is
- Hire his homogeneous friends for fake jobs with fat paychecks
- Fail to get the asset cap lifted after yet another year
- Run off high ranking people of color
- Anger all other people of color
- Royally tick off most employees with performance plan stuff and 401k stuff
- Rename team members to employees
- Continuously reorganize teams and force manager changes
Worthless