Seems like the bank is consistently dwindling itself..
Less and less products offered, Moved 401k and hr tools out to vendors, d-mbed down the job titles and moved to a vague random range of salary mounts, consolidated groups amongst businesses with similar functions, ongoing layoffs, bonus amounts are now just whatever someone arbitrarily decides you get, more and more overseas hires in most roles, RTO, location strategy, technology is not invested in anywhere near where it should be, no sign of the cap being lifted..
Idk..these are all certainly cost cutting measures sure, but it’s starting to feel more and more like they are thinning this out and watering it down to sell off the stagecoach in due time.
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I am hanging onto my Wells Fargo stock in hopes of a acquisition
Can't speak to the rest of it but the statement that we aren't investing in technology is simply false. We're spending over $1B on infrastructure to modernize our environments and that is just the start. We have a long way to go on this journey but is very much a focus of executive leadership and the board.
No thank you!!! M. Mack is part of the problem, with better PR.
Elon runs businesses where RTO makes some sense, my guess is he'd apply that principle to WF (where is largely doesn't). So yeah, 'no thanks'. We already have two execs that need to go so we can rid ourselves of that BS. I'd rather have M. Mack run the bank.
The WF brand is very tarnished at the moment. It reminds me of Jack in the box back in the 1980s. Let us not forget, Enron is still being talked about, as well. I feel like I need a swig of Listerine after I say the name, Wells Fargo.
I think it’s a great time to put that stagecoach in the used car parking lot, now…
Goldman Sachs merger has been rumored many years ago.
Let’s just fantasize if Elon did become CEO. Would he be able to turn this bank around? True, most of Twitter employees are being fired or laid off. I suspect Twitter was never well balanced between liberal and conservative teams. Since this is a financial institution, he can’t just toast most of the employees. The upwardly affluent clients have developed relationships with the bank employees. Those employees will probably stay, whereas everyone else is expendable.
WFC market cap is ~$175 Billion. Musk would have to invest most of his net worth to own it.
Ha...no way the feds would let anyone buy this company. I doubt they'd even let them "merge" with a smaller regional form.
If Elon will bring more layoffs, then I’m ready!!! Start with the CEO and COO.
The next cost cutting measure should be firing the CEO and COO.
Elon will bring more layoffs!
I wonder if Elon is interested in buying a bank? Maybe someone should float the idea.
The current stooge running it is either tone deaf, or doesn’t realize he’s very uninspiring.
no new products? Fargo, Wells Fargo Premier, new credit cards, flex loan
Yes. That’s my guess. Morgan Stanley, perhaps?