Thread regarding Wells Fargo & Co. layoffs

Charlies assult on the bank - Or - Why we are screwed

What is going on at Wells Fargo today is a Wall Street takeover of american industry.

This has happened in many other industries over the past few decades and now its our turn.

The playbook is simple - lay off workers and replace them with cheap alternatives in a foreign land, then shut down operations and perform all kinds of financial engineering (stock buybacks, loading up with debt)

What this does is make a massive amount of windfalls for executives. Chainsaw is here to rip apart Wells Fargo and make himself and his cronies a windfall at the expense of employees.

Charlie is setting himself up for a massive payday, which he will gleefully collect and the shareholders will get a tiny fraction of what Charlie is destined to make.

He will then move on to the next victim corporation desperate for a hatchet man.

We are witness to a continued hollowing out of the american corporate enterprise which transfers wealth to a few greedy scumbags, while normal honest people are thrown out to fend for ourselves in an increasingly hostile labor market.

This is pure class warfare.

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| 2775 views | | 27 replies (last May 25, 2021) | Reply
Post ID: @OP+1b0mYcqV

27 replies (most recent on top)

Post ID: @1dcy+1b0mYcqV you are correct. The OP down votes narratives to the contrary. Sometimes you can see some innocent flies getting caught in the trap but they tend to get quiet once they smell the stench of the original message.

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Post ID: @1iue+1b0mYcqV

lol, people downvoting data. Looks like we've identified some dead weight. At this point, the more downvoters you see, the more truth in the post.

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Post ID: @1dcy+1b0mYcqV

@1inr, I think the reply was intended towards the OP, she is spewing all this garbage and assuming the gender is totally acceptable, given the vitriolic nuances of her posts. You know, it's true what they say about scorn and all that.
So, you are here to prove her point dear? Enlighten me.

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Post ID: @1rpm+1b0mYcqV

Post ID: @1wqc+1b0mYcqV

What are you yapping about, Di--------y?

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Post ID: @1kzn+1b0mYcqV

Chase cannot merge with or buy WF. The deposit market share cap is 10% per bank. Both banks are at 11% by themselves. SunTrust and BBT were each just over 1% when they merged, it’s not even close to being the same thing.

Scharf is however turning WF into Chase.

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Post ID: @1cvg+1b0mYcqV

“assult”

Yet another example of the meager and illiterate intelligence WF hires.

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Post ID: @1wqc+1b0mYcqV

@1tpg+1b0mYcqV, don't think its quite the same comparison. Truist's combined assets from SunTrust and BB&T are a tad over 500B, basically a quarter of what WFC by itself is. A combined WFC and Chase would be almost 5.5T, putting that theoretical company at 10x the size of Truist. So where the regulators allowed the Truist merger, I don't think they'd allow ChaseWFC.

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Post ID: @1xok+1b0mYcqV

If you call a woman “hon” in the office, she will pursue filing a sexism report against you. Not that you’re capable of enlightenment. But with multiple offenses, you will be fired, hopefully also by a woman.

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Post ID: @1inr+1b0mYcqV

I used to think that before SunTrust and BB&T. Now I wonder.

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Post ID: @1tpg+1b0mYcqV

Chase and WFC can't merge. Both banks have too high of a percentage of the nations deposits.

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Post ID: @1pgp+1b0mYcqV

What if Charlie is positioning WF to "merge" with Chase? Dimon retires, Charlie gets richer...

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Post ID: @axs+1b0mYcqV

Post ID: @tna+1b0mYcqV. and. Post ID: @ycd+1b0mYcqV

This is a Wells Fargo board. We could discuss all types and places of corruption. Could also discuss the lack of personal integrity behind hunting for sport, littering, and pushing opioids.

But the topic at hand on this board is Wells Fargo. Try to stay on topic rather than whatever cockamamie bs you’re spewing out.

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Post ID: @xqe+1b0mYcqV

@yrh gurl, you tell her...

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Post ID: @hve+1b0mYcqV

@yrh You go girl, stronger together

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Post ID: @rut+1b0mYcqV

@tna. While we’re at it, focus on the Koch brothers, Sinclair Broadcasting, and Rupert
Murdoch’s companies as well, not to mention how the Trump Companies fleeced the government and their followers out of multi-millions for the past several years.

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Post ID: @ycd+1b0mYcqV

I agree with this post. Charlie came in, knowing he could use the embarrassing state of Wells Fargo, and the desperate position of our Board, to his advantage. They couldn’t go much longer with only a temporary CEO. I don’t really want to pay him a compliment, but he played the Board beautifully: initially saying he didn’t want the job so that they eventually paid up for him. And even let him stay in NY. They probably would have paid more.

It’s a classic manipulative scammer move. People think something they can’t have is somehow more valuable. Bernie Madoff used it to his advantage for years. All Bernie had to say was that his managed funds were unavailable and closed to the general public. Only for the ultra-exclusive and wealthy, he said. So investors would come back to Madoff offering to give him even more of their money, and beg for access to his (fake) funds.

I don’t underestimate Charlie one bit. I think he’s become even more masterful at all the many ways he can use the power of his position to his personal advantage the longer he’s here. This place is a gold mine, ripe for the picking. And the Board is happy to sit back and watch it happen as long as they continue to get their $400,000 per year for attending quarterly meetings.

By taking the job, Charlie has already proven that he doesn’t mind stepping on people when the money is right. What more proof does anyone need?

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Post ID: @lkc+1b0mYcqV

Post ID: @igk+1b0mYcqV

I don’t call standing up against biased trash talk and condescending generalizations being vicious. Nor do I call women or girls “hon”.

Apparently Layoff.com found the post as offensive as I did and removed it immediately.

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Post ID: @yrh+1b0mYcqV

What a stupid post. If you wanna go all conspiracy mode, focus on Baldy Bezos and how he owns Amazon and the Washington Post, and how he’s trying to own more influential companies.
Charlie? He’s a very overpaid fraud who will take down a company as it’s worthless Board pays him and doesn’t see it.

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Post ID: @tna+1b0mYcqV

@snv, I think you just proved his point hon

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Post ID: @igk+1b0mYcqV

we can buy and get majority of stock and replace who we need to following - from top down

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Post ID: @gql+1b0mYcqV

Post ID: @djf+1b0mYcqV

Hey genius!

Bias much? Equating viscous with women rather than men? Your mommy didn’t hug you enough? You might as well have “d-mb-a-s” tattooed on your forehead.

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Post ID: @snv+1b0mYcqV

@kcf, this ain't no bro, way too vicious. But Charlie lives rent free in her head. Precious!

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Post ID: @djf+1b0mYcqV

@lag Your reading comprehension is obviously LAGging too. Either that or you’re a corporate shill.

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Post ID: @ffy+1b0mYcqV

CS started Oct 2019 IIRC...

https://ycharts.com/companies/WFC/stock_buyback

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Post ID: @lxb+1b0mYcqV

You're right, stock buy backs were invented by the current CEO. Mmmm-hmmm.

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Post ID: @lag+1b0mYcqV

Ask BoA how that worked out for them. Tough days ahead for the bank, if they think the scandals ki---d them, just wait. They just don’t realize it.

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Post ID: @pup+1b0mYcqV

They are following the Chase playbook and that’s what it is all about. It’s a bad rerun.

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Post ID: @mug+1b0mYcqV

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