WF releases quarterly earnings Friday. If you look they were expecting $1.20 or more earnings per share 30 days ago. That dropped like a rock recently to about $0.60 per share.
Analysts are expecting massive layoffs and associated reserves for severance. Expect between 10,000 to 15,000 heads to roll. CS and co can no longer rely on a simple chainsaw but will look into gas chambers. Oh the humanity!
So Chuckles has scheduled a Clown Hall meeting for 1/25/23. Come on Charlotte, we need anybody that's still left to ask some tough questions. No softballs
Stay UPBEAT during layoffs.
Bee Gees - Stayin' Alive (Official Music Video) - YouTube
https://www.youtube.com/watch?v=fNFzfwLM72c
It is SO sad to see the downfall of the company I joined and worked at for around 11 years. Was SO happy and motivated at first. "Proud" to be a Wells Fargo employee.
Got good performance reviews. Nice Managers. Things got progressively worse. Too bad. Very disappointing for sure. Thinking maybe I should start quickly transitioning my Wells Fargo checking and savings accounts to like Bank of America. Thinking about it .... Yeah. I got laid off in 2022.
Bye bye baby goodbye
Yes - we DO need to lay off some people: Charlie Scharf and the Board.
the fed offloading their balance sheet will put us into and early 80s situation, or worse!
I think the $3.7B settlement was the main factor in the change
I am not sure, do you think it will be like 2008?
It looks housing market suffers shortage this time rather than surplus
https://www.yahoo.com/now/harsh-warning-us-real-estate-110032642.html
Economists who've been correct predictors in the past say this wave will be much worse than 2008 housing market crash. We shall see.
This just in, Wells Fargo to be fined $1B for the dumpster fire that's contributing to climate change!
Cost of doing business!
Friday won't be just about Wells Fargo. The other big banks are going to be taking a hit as well. And everyone will be talking about the economy tanking.
Fake news fake news fake news
I am going to guess Mortgage is going to get hit the hardest.
It is not 2008..yet.. There will be layoffs, but will be fine. Life will go on.
It’s time. Good luck everyone. Regardless of how you feel about it, it’s been a he-l of a ride.