Well it’s finally creeping into the Investment Advisory Product Group. The realignment of several product area’s Sr. V.P.’s under those who were formerly much junior team members is causing quite the stir! Many of these overly paid and underworked senior leaders are going to get a serious reduction in their salaries or severed if the reduction is greater than 30%. Karma is a powerful and entertaining thing to watch.
5 replies (most recent on top)
Next up will be mgmt layoffs and a small number of people layoffs. This will be followed by the announcement of new execs and more mgmt retirements and layoffs.
Total shell game. This company is the most corrupt organization I've.ever seen and I've seen a lot. No accountability or consequences for 90% of what goes on.
@khq+1cMTZRQR Saw the same merry go round in our area. Managers were doing head spins trying to keep their reports. All is well now, if you consider uhm, "retirements"
and other fancy dances "solved" the problem.
I don’t actually enjoy watching people get demoted or lose their jobs. Not sure what that says about you, OP.
Our department has been pulling all kinds of shenanigans to get around Spans & Layers. They are re-titling previous mid-level managers, who managed less than 7 people, but are letting them keep their current salaries even with much less responsibility. And then they are putting entry level employees under Senior Managing Directors in order for those managers to get up to 7 direct reports and keep their titles. But guess what: HR doesn’t question any of it and is letting them get away with it.
So once again - it is all a lot busy work and moving around of deck chairs with absolutely nothing of value being accomplished. That’s the Wells Fargo way!