Thread regarding Wells Fargo & Co. layoffs

Wells Fargo wants to be a hedge fund

According to this analyst in the article link below Wells Fargo is going to layoff lower level workers because they are going to make money giving financial advice. Talk about a company that is in denial. Why would anyone take advice from a company which has been convicted of every type of financial fraud on earth. Just wondering who was giving financial advice when they lost money along with Credit Suisse recently I know it was not the lower level employee's maybe they are looking at the wrong group of people to layoff.

https://www.pymnts.com/news/banking/2021/wells-fargo-analyst-predicts-us-banks-to-shed-10-pct-of-jobs/

by Anonymous
| 1457 views | | 5 replies (last May 19, 2021) | Reply
Post ID: @OP+1aV3SR2G
Comment! It's anonymous!

5 replies (most recent on top)

I want to be a billionaire too. Don’t see that happening either.

Sounds like that would make a good song.

by BrunoMars
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Post ID: @owc+1aV3SR2G

I don't think a bank whose upper management is unable to run a retail banking operation would last very long being a hedge fund. Meaning you actually need intelligence something Wells Fargo upper management has never had. Wells Fargo will be challenged to cut lower level workers as much as they think. Why does Wells Fargo have so many lower level employee's ? It is because of poor upper management in that they need people fix upper management blunders. So unless they plan on bringing in new upper management I doubt lower level employee's have much to worry about. I think analyst like throwing job cuts out as a way to pump the stock price.

by Anonymous
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Post ID: @bpb+1aV3SR2G

What a brilliant idea. Only if they would start a brokerage and wealth management business that provides financial advice.

by Anonymous
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Post ID: @ijv+1aV3SR2G

Post ID: @vjl+1aV3SR2G

Did you actually read OP’s post? Your reply sounds like you just had to say something you needed to get out, rather than responding to what the OP is actually saying.

Of course, reading comprehension does take a certain intelligence level that is slightly above the average replier.

by Anonymous
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Post ID: @nyz+1aV3SR2G

The intelligence level of the average poster here is astonishing. Low skill retail banking jobs will go away much faster vs those in other areas of the bank because the branch network isn’t as relevant to grow deposits in the current era.

by Anonymous
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Post ID: @vjl+1aV3SR2G

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