Thread regarding Wells Fargo & Co. layoffs

Here is the truth about RTO in a nutshell:

Upper management needs us back in the office to justify their existence and exorbitant paychecks. They have to attempt to rationalize to the Board and the shareholders that the company cannot operate effectively without management being there to watch over our every move and to be the big men in charge of it all. It’s no longer the 1980s, and Gordon Gekko went to jail.

It’s pure bs. In what other world can they justify bringing in more superfluous highly-paid Do-Nothings and eliminating the lower-paid people who are actually doing the work and serving the customers. Soon we will be a company of people who all want to be Kings, but who can’t do any of the work. Charlie is spending billions on stock buy-backs because he knows it’s all smoke and mirrors, and he needs to manipulate that stock price up to make it look like he’s turning the company around. He is obscuring the truth of the situation with deception and embellishment.

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| 1283 views | | 4 replies (last March 3, 2022) | Reply
Post ID: @OP+1fz5qZtE

4 replies (most recent on top)

In February 2007, Lehman stock price was $86, giving the company a market cap of $60 Billion.

In January 2008, Lehman was the fourth-largest investment bank in the U.S .

In March 2008, Lehman stock dropped by almost 50%.

In June 2008, the company reported a quarterly loss of $2.8 billion.

By the end of 2008, Lehman Brothers Holdings Inc. had vanished from the investment banking landscape, the largest corporate bankruptcy filing (with $619 billion in debt) in U.S. history.

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Post ID: @dup+1fz5qZtE

The naive, inexperienced, and/or Yes-Men can’t see it or don’t want to believe it. Similar to the investors at Madoff or the employees of Bear Stearns, Wachovia, Lehman, Enron.
It all became clear when analyzed in hind-sight, though, and the truth about management’s poor decisions and greed were brought in to the light.

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Post ID: @tpc+1fz5qZtE

Ge-z OP - you make an awful lot of assumptions about what people think and why they're doing what they do. The jig is up - move on already.

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Post ID: @rfj+1fz5qZtE

Enough already!

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Post ID: @tjg+1fz5qZtE

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