Thread regarding Wells Fargo & Co. layoffs

Just wait till they get hit for not following the RCSA related consent order. If you've got something on the company, go talk with the regulators. Otherwise, talent in management will keep them from seeing the real mess.

No outrage from the public because this sort of thing has become expected behavior.

No outrage from management because this is understood to be a cost of doing business.

No outrage from shareholders because anyone whose been watching has already sold their stock, and the only shareholders left are the ones who are not paying attention.

The Feds disagreed with the States. Fed law, often contradicts State law..
Haven’t you noticed that majority rules? With one exception, when the electoral rules apply… ;)

Post ID: @1nht+1jeWaz6o

The Feds disagree with you.

@bth+1jeWaz6o

I don't care what pressure upper management was putting on them. They still illegally opened accounts hurting clients while profiting off of it.

That is completely on each and every person who broke the law. Any one of them could have reported it to their state attorney general's office or the news media. But they didn't because they liked the bonus checks they got.

Business is business. There is nothing wrong with selling. What is wrong is trying to turn a customer service agent, with no sales skills, into a sales person.
You dedicate years to learning about the company. Learning about your job. Then, unexpectedly, you are shifted from the job you learned to do to a new job at the same company. Wait a minute! You applied for a specific position requiring specific skills to do a specific job. Then, without any notice you’re transferred out. What’s up with that? Then you’re left with two choices. Learned a new job and continue receiving your biweekly paychecks or quit. The company decided to stick it to you. Though wait! There was a third option. Quietly quitting. The company decided to stick it to you so, you stick it to the company. You take that time to determine whether you’re going to wait them out and get your severance or give yourself enough time to bail from this company. You’ve learned a valuable lesson. This company doesn’t care about you. You’re being used. You’ve gotten lazy and comfortable with that biweekly paycheck. You’ve let your other skills lapse. You Anguish over having to redo the résumé and prepare for weeks or months of interviews.
Welcome to Business. You work for another company, they think they own you. You need to learn to play the game. While they’re playing you, you’re playing them.
This is not a church. This is not a service organization. This is a business. This is the business about making us much money as possible. This is not for the ignorant. This is for the savvy and experienced individuals. Is it possible to be successful at honest at the same time? Yes! The weak take the easy way out. The company needs to weed out the ignorant, the inexperienced, the dishonest individuals.

The conflict in my mind about some of those team members who created the fake accounts still bothers me today.
Imagine being in the shoes of one of those new bankers. Some of them probably spent hours, days, weeks and Months for that matter, preparing the résumé, submitting it, and endless hours of interviews to land the job at WF. Thinking of all the companies they turned down after accepting the position at WF. Then, fast forward, they find themselves with unreasonable sales goals. Unreasonable expectations. Constant pressure from senior management. Suddenly, there is a fork in the road. Do they quit WF and begin the job search all over again? Do they turn to the Darkside and commit Questionable acts?
Fast forward again. The honest bankers getting blow back from the scandals. Those honest bankers leaving WF and trying to get another job at another bank, only to find out that their term at WF is a real black spot on their resumes.
In my opinion, the Majority of the blame lies with those executive stooges. This is the company where you CYA and watch your back. It’s not for the ignorant.

I do not blame the employees one bit. They were under extreme pressure from management all the way up to Tolstedt and Stumpf. Those who asked for help, wrote letters to Senior Execs and/or turned to HR for support were tormented and/or fired. It was all a result of bad behavior on the part of WFC Management.

Similar activities take place at WFC today. All you have to do is look around you.
Compliance people looking the other way because she who asks too many questions does not get promoted. Traders on “non-profit” desks taking excessive mark-ups because their managers promote those traders faster than the traders who do right by our clients.
Sales positions still getting paid based on how much they sell, even if they are faking or lying about how they achieved those numbers. Senior leaders not pursuing questionable activities so as to not ruffle the feathers of top producers.

Wells Fargo is every bit as scandal-ridden as they ever were. It’s all smoke and mirrors.

I don't blame just management.

I also blame the people working at the banks who opened fake accounts to pad their own bonuses. They willingly too part in that game for their own financial benefit.

All of them should be in jail.

Retaliation should not be the point here. Since we work for this company, let’s do our part in draining the swamp and cleaning up this mess. I’ve been doing it ever since I’ve been working for this company. I feel like a glorified back office janitor. Have I found ways to save the company a boatload of money? Yes! Unfortunately, I’m too far back office for anyone to really notice. Do I care about recognition? No! Do I really want a free paid vacation just to hang out with the executive stooges for a few days? No! All I can do is just shake my head and keep sweeping. Let those above my pay grade duke it out.

I’m with you 100%. Senior management seems to forget that many of us have enough on them to cause them a lot of pain.

I think some of us long haulers have become somewhat numb to all the scandals and ridiculous spending. It feels like almost every year the executive stooges are telling us to watch our spending and tighten our belts. IMO, WF is a virus without a vaccine. Just look at some of the horrible back office systems we have. The executive stooges are so gullible, that they waste millions on solutions provided by flimflam sales experts. Then, in return, the project heads are rewarded just before they bail from the company. I recall nearly 18 years ago when a project head was rewarded with a free trip To Hawaii for creating one of the worst CRM systems I’ve ever seen.
If clients only knew…