If the economy turns around, do you anticipate any Wells Fargo layoffs? Any chatter, news or rumors?
51 replies (most recent on top)
I heard the overstaffed risk team is in the crosshairs for big reductions.
After 4 years our efficiency number is still in the 70s?? Target is 59. How's making it miserable for the knowledgeable Team Members that all left working out? Chuckles is the worst. Here's a $20m raise. Lmao.
If they can make the stock price look better by one penny, you can bet they will do it.
No layoffs in marketing
Nope. I heard zero layoffs in 2023.
The layoffs have nothing to do with the economy. They started long before Covid/supply chain/Ukraine/inflation and will continue as long as cutting expenses makes Charlie look good.
Have you looked at the efficiency ratio? It’s in the low 70s which is way higher than any peer. No one department or person is safe for one reason or another. Layoffs continue. We have lists.
Yes, you'll continue to see layoffs. Maybe not by the numbers in the past, but as long as we're under this asset cap, we can't really grow like we need to. Mortgage will probably be the focal point.
Thay have not reached their goal which WAS 20% reduction. But that was a few years ago and times are a changing. Aggressive Layoffs easily for another year or more.
India’s still growing so
I'm not sure it matters to this executive team cares what the economy is doing. It's a good time to downsize people no matter what.