Hey all - if you all are concerned as much as I am about if the board is looking to piece out Wells Fargo and sell it entirely please start bombarding them anonymously with questions about their long term 3-5 to even 8 year strategy in all of the town halls, ask me anything's, any large company meetings. lets get it out of them and see how they respond!
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I’m not concerned at all about the board looking to piece out Wells Fargo and/or sell it entirely. The whole freaking country should be worried if we aren’t parting ourselves out to Fintechs or any healthy buyer with cash. We are not just screwed up, we are screwing up the entire USA financial system and likely the worldwide systems.
"...as transparent as possible..."
Well, there's your problem right there.
If you can't be honest with your own employees you lose the trust of those employees.
I remember years ago at a NASDAQ 100 company the CEO telling us all at a companywide meeting that he'd taken a gamble on something huge and he bet wrong, and it was going to hurt us for at least a year.
We all dug in and did what we needed to do.
Here I do what little I can to not get fired, waiting for a layoff or another job offer, because I do not see any reason to go above and beyond for these folks or this company.
But, we have a 6 S strategy and we'll keep at it. We got rid of training and added a 'college' so you can upskill. (sarcasm intended)
Maybe if we get enough people asking these questions, they will choose one to ask during the meetings. Has anyone seen one asked in the past?
Well the questions don’t have to be only when Charlie comes out of his cave. Do you have to submit questions in advance when the heads of your LOB speak?
I work at WFA and we have an open forum. Our business leaders ask for and take live questions. They sometimes dodge them, but they are taking a fairly engaged approach with us. There are ways to ask good questions in a constructive manner that don’t sound like you are on the attack.
“Thank you for taking questions, Charlie (Saul, Jon). I know that you pride yourself on being as transparent as possible with employees. Could you share what you can regarding the short, mid, and long-term goals for Wells Fargo? Maybe you could use this time to put some rumors to rest.”
I like to ask these kinds of questions, because sometimes you can read in between the lines and gain some perspective from what they DON’t say.
if we get enough of us asking they will have to respond, if that is always in front of them then they will want to respond.
You can say what you want about Tim Sloan, but he at least had the balls to stand up on stage in front of employees and take live unfiltered questions. And they were tough questions.
He didn’t hide in the shadows and avoid his own employees. What do you think he is avoiding? The truth.
Not sure what you're expecting. I assume did did the training on handling material nonpublic information.
I always submit these type of questions and they never get read.
Big talk on an anonymous board.
the issue is they pre-screen questions so many not make it in?
I agree 100%. Somehow, they have manipulated seemingly intelligent people in to keeping their heads down, afraid to speak up and ask important questions. Sheep being led to slaughter. I don’t get it. Somehow WFC ended up with a team of 265,000 completely submissive employees.
Adding to OP’s request, I would advise employees to bombard upper management with questions no matter what you think the strategy is. Don’t allow them to continue to keep employees in the dark.
I'd like to know as well, but we're kidding ourselves if we think any senior leader is going to let the cat out of the bag on groups being sold or businesses being shut down. It's just not the venue for that...and that's not just a WF thing, I don't think anyone would operate that way. The best we could hope for is an answer that we can try to read between the lines on, but that's more guess work than actually knowing anything.