Thread regarding Wells Fargo & Co. layoffs

@bt You're splitting hairs. Parker was basically a substitute teacher. He was minding the store but not leading.

Umm. Some of us where here. We remember our CEO was Allen Parker and he stepped down when Charlie was hired.

Sell your fantasy theories somewhere else.

@OP it’s easy to calculate the value added under Schart: he reduced number of shares by 22% costing $49b since 2019.

The market cap as of today is approximately $270B vs November 2019’$200B or increase of $70B. During this time total net income was $104b. Dividends $35b.

Starting 3Q 2019 market CAP $200b
Total net income $104b
Dividends $35b
Buyback $49b

Book Net worth as of 3Q 2019 $197b vs $184b as of 12/31/25. (Actually decreased)

Today’s share is $86 vs $55 in 3Q 2019.

55/0.78=70.513 times 1.05% annual return for six years =$94. Buyback % boosted share price at a market 5% rate of return.

Did Schart increase the shareholder value?

Is Schart a leader a CEO that knows how to grow the business? Fix the problems? So that his $40M pay is justified?

C. Allen Parker, chief counsel, acted as interim CEO.

Where do you people come from.

@OP sadly the writing was on the wall when we were relegated to employees because being team members was cultish. He gets a 28% increase for missing financials and cutting the fat. Sadly WF was chunky. But it’s gone too far. Cutting your knowledge base and off shoring. But he will be long gone before the regulators are we-ponized again. Those left, handling the work of 3, will be left to pick up the pieces. At what cost? Work life balance? Back to the 80s we go. 70 hour work weeks. It’s really a travesty. But as someone very intelligently pointed out as long as customers don’t feel it, it won’t matter.