How long have you been around? Is the stagecoach broken? If yes, is it repairable?
16 replies (most recent on top)
@1wgg+1iV4rFNd - Nailed it! WF is becoming the Macy's of banks.
Go and ask an average person on the street what they know about Wells Fargo. Now go and ask your average employee what they think of Wells Fargo. You’ll find all you need to know. (Spoiler - they won’t be singing it praise.)
40 years. Irreparable.
Charlie is turning Wells Fargo in to the Macy’s of banks: Nothing sets us apart from the competition, products are ordinary and overpriced, focus is on cost-cutting rather than improvements, outdated business model, squandering it’s relationships with customers, dirty unappealing environment, higher-waged workers being replaced with low-wage workers while Executives keeps giving themselves unearned salary increases, revolving door of changing strategies, creating Iill-will with employees, out of touch with younger customer’s needs,….
100% irreparable with Charlie and this current Board at the helm.
There is no stagecoach. Charlie made sure of that. There is no leadership. I was with the bank for a long time and loved my job for many years. Then the company went to he-l in a handbag. The leadership began to change dramatically and Chase began to move in. Rapidly. My new manager did not value me. That person made my days intolerable for the purpose of pushing me out. It became so miserable for me that I left opting to retire. If Wachovia was still around I would still be enjoying my job. So many people have left since me that have gone to other banks and they are SO glad they did. It’s so sad to me to see WF turn out the way it had.
I guess it depends on the definition of “repair”. I don’t think it will go under - but I think the damage to reputation and to employee morale may never fully recover from the current c-suite debacle. I know many many long-timers who are looking to jump ship.
WF will never go down - they are a huge ship with tiny holes that will never sink
Management seems to be without direction, except to reduce costs. Is it ever communicated where bank will be in 1 yr, 3 yrs, 5 yrs? Or perhaps asset cap has mgmt frozen.
The only way is for there to be new reinsmen.
Almost 30 years here. It'll take many decades to recover.
25 years plus here. I have seen a lot of changes, things changed back, etc. I think current senior leadership’s complete disregard for employees (heaven forbid we say “teammates”) speaks volumes. Unfortunately, I think it is past the point of repair.
I always thought I would retire here. I am actively looking externally for the first time in my career. It is sad.
Repairable? Yes. Is that the intention of current leadership? No, it is being stripped and sold as parts.
It is difficult to find to a single decision that shows long term continuity is part of leadership’s plan.
The banker was bitten by a snake, the wagon sunk in the river and the survivers are dying of typhoid.
Stagecoach is broken right now. But, the company has shown an ability to undergo dramatic transformation. It can again... with better leadership.
If you haven't noticed, the stagecoach has been removed from all marketing materials
At this point (multiple decades under the WF brand) it feels like even if we replace the wheels, axles, and springs it won't make a difference because the wood that forms the carriage is about to disintegrate.
Forever. Some parts need replacing. Yes, with properly motivated people of sufficient caliber. The former isn't happening so long as RTO is in place. So yes, possible to repair, of the id--ts in NYC will get out of the way.