FACTS through the lens of the Employees

First off, layoff’s on the 3rd week of March 2023 are true.

”WHY YOU MAD!”? Here’s why:
Let’s start at the inequalities, and wrap up with double standards and lack of accountability.
First, The CEO of the enterprise doesn’t have to commute to work ever. HE IS PROVIDED A CAR, AND PERSONAL DRIVER THAT TRANSPORTS HIM TO, AND FROM THE NYC OFFICE(not WF headquarters). I would have no qualms going into the office if I am picked up and dropped off on the companies dime. Don’t believe me? Just check the SEC’s website and take a LOOK AT THE OFFER LETTER FOR YOURSELF. So while he brags that he’s in the office 3-5 days a week. Just remember, THAT HE DIDN’T DRIVE HIMSELF THERE, NOR DID HE INCUR ANY COMMUTE COSTS, WEAR & TEAR ON HIS VEHICLE, OR PAY FOR PARKING! THIS IS ALL PAID FOR ON THE COMPANIES DIME.

So, The company is paying for his Commute/Car/driver etc. right? How can anyone talk equity and inclusion? Was a car and driver part of your RTO notice? How is this equitable? Oh yeah, he also has access to the PRIVATE JET whenever he wants. Anyone know how to put an access request in for that?

This just goes to show how out of touch the companies OC (Operating Committee) is. Based on the progress the past few years, how is this acceptable? Would any middle manager receive a “meets” rating on their review based on the progress? Employment is at will! The OC needs to Stop playing favorites, and demand results! OR, is it in the OC’s interest to make the CEO look like he is succeeding no matter what? Remember, the OC approved this offer letter, raises, bonuses. and perks.

So what do they do? Cutting headcount is the one and only cost saving idea they have. I agree headcount is high, however there is a reason for this such as the current tools, and lack of adequate systems result in more manual tasks, and duplicative red tape. I thought the CEO was going to knock the silo’s down. In fact, more Silo’s are being stood up.

If you think employees are unjustly complaining, then guess what… an employees attitude is reflected by leadership! You call us complainers, we tell it how it is, you tell it how it might be. You would have to be blind, or go out of your way to NOT see the pay inequalities, and lack of accountability by management.

Instead of burning out your employees and placing blame on them. Invest in them, and listen to them. They are the one’s in the trenches getting work done while the CEO is getting a ride to work on the companies dime scrutinizing over RTO numbers. It’s kind of pathetic and extremely short sighted.

Comment! It's anonymous!

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The OP is making a good case for going back to the 1950's.

When CEO pay was 4 times employee pay, not 400 times, and the marginal tax rate on the wealthy was 95%.

I'm all in.

Tax the wealthy, especially on un-earned income (investments), and pay a living wage.

@4iva+1lgraEZ5

Your story is my story.

@2uon+1lgraEZ5

Maybe the question you should be asking is why is RTO a hill that Chuckles is willing to ki-l the company on. I was WFH long before COVID. I worked a very long time in-office first, in a role where it made sense to go in. Then I got promoted to a role where driving around for no reason was a waste of time and resources, so I was WFH and I was highly successful at it. The company respected me and trusted me. So long as the work got done they didn't care where I was or how I did it. That's an empowering thing, and I rewarded them with top performance. Then some id--ts in NYC came along and decided to treat me like an 8 year old instead, for absolutely zero benefit. I've been driving to a building for about a year now, and neither I nor the company has gained anything from it. Actually the opposite has occurred as morale has tanked and I waste time I used to invest in work in driving around, setting up tech, getting distracted by rando people etc. It's a complete waste of time and their justifications are ridiculous to the point of being insulting. All I've learned around the water cooler is that people are afraid of losing their jobs, people think RTO is d-mb especially when others in their group have exceptions, and no one trusts the "strategic direction" coming from the ivory tower in NYC. Is that what chuckles was hoping I'd learn? Is that the big benefit of "RTO"? I suppose if encouraging all the good employees to go elsewhere is his objective, it is.

@4xpv+1lgraEZ5 This is what happens when your prescription runs out and you replace it with alcohol. Keep in touch with your doctors folks.

You must be New???? Charlie is just doing what John said 10 years ago. Sorry if you were not here when CEO John gave us the warning about mass layoffs in the future. Those of us that have been here 15-20 years have been expecting this lay off

@3uye+1lgraEZ5

In spirit or keeping with the purpose of the site; The week of 3/23/2023 will be a big one. I am sincerely sorry to anyone who is affected.

Now let me educate this candybum.

Woah there, slow your role ya Jabroni! This is an online forum. Not an English class! Bahaha! Thank you for proving my point. You dinosaurs are so focused on micro-managing and power plays instead of actually doing your job. CLEARLY you have failed to see the point. Sorry, I cannot increase the font size for your baby booming eyes.

First off ya little weisenheimers, HOW ARE YOU COMPARING WF TO OTHER BANKS? ROFLMAO! WF IS NOTHING LIKE OTHER BANKS! Maybe you forgot that we are the

ONLY BANK OPERATING UNDER AN ASSET CAP!

WE ARE THE ONLY BANK TO DUE MASS HARM TO OUR CUSTOMERS, AND STILL HAVE NOT RESOLVED THE MATTER YEAR LATER.

We are the only bank that continues to incur fines for a broad range of issues. Ranging from, executives R-Kellying on some old lady to having carved out expenditures for incurred fines.

Pretty sure I am correct about the BOD and OC driving a narrative of our CEO succeeding in his role. They approved the offer letter and raises, perks, and continue to do so. SMH

You are clearly out of touch it’s downright laughable! “Go get your shine box”, or “someone put’em in the bathroom”!

MEANWHILE, the troops are in the trenches doing their jobs while captain navigates the ship into many new fines, and costly inefficient, outdated initiatives and practices.

Based on the short list of public information I provided, let me ask you this…Does this performance reflect an employee aka CEO to receive a “meets” or “exceeds” rating? I THINK NOT! The problems that were there 4 years ago remain.

FACT IS, YOU missed the entire point of my post. I could careless about RTO. I’ll do what is expected by the company! I was simply pointing out the lack of performance, and double standards, and LACK of equitable pay and inclusion. If this was a mid-level manager, they would have been fired long ago! Better start carrying paper towels around with you, cause your golden boy is all washed up! You’ll see it my way when he bolts after he has fulfilled his terms of the offer letter. Don’t hate because “I only speak the truth….even when I lie”.

Yo, OP, let me help you out here...
"Companies" is the plural form of the word "company." You wanted the possessive form: company's.

"Silo's" is the possessive form of the word "silo." You wanted the plural form: silos.

"One's" is the possessive form of the word "one." You wanted the plural form: ones.

Thank you for coming to my TEDTalk

Dude I hate to be that guy but it sounds like you were at WF before Covid and WFH. Where was the outcry before this all went down about driving to work and etc? You knew that the wfh forever train wasn’t a guarantee just yet. Many people can get around now, covid isn’t as bad as once thought. Ferries are opened again, NYC doesn’t require mask anymore, Amtrak works just normal, Ubers are still here and roads are all open. Many people didn’t skip a beat coming to work IN PERSON.

Most of retail and branch banking had to deal with Mask, Plexiglass walls, cr---y Back office support, being practically in the blind with rushed business Initiatives and products. They don’t get paid to commute.

So your tirade about Charlie is sorta like yelling at a 12ft thick steel wall. Because ALOT of F500 CEOs travel on company dime. You could too if you had to drive on company time.

Why is RTO just 3 days out of the week such a hill that a lot of you die on? If you had the means to get to work back then you shouldn’t have an issue now. If you do, stop acting perfect and talk to your mgr

he also get paid security, an office and secretary in perpetuity when he retires, and someone to wipe his bottom. all these perks are common for CEOs

Came here for d-mb@$$es beyotching about C-Suite perks that they could never get, totally not disappointed. Thanks for the laughs chumps. What’s next? Complain about the earths tectonic plates continue to shift?

Wells Fargo wanna act up and treat us like children then we finna act like them. You get what u give me baby.

Could care less. You can get a Uber pick you up in a black SUV for like 30 bucks and drive you to work. Work place sucks though, its filled with ghetto trash and fuggly Indians with fraud CVs who are showing up to under cut wages. These Russian Jews are turning the country into a giant sh-t hole.

Come on children…scurry back to your cubicles. Shoo shoo now

The culture is the worst I have experienced in 25 years. Morale is at an all time low. There is no LOB I interact with or have friends working in that are excited about their work. No one is proud to work here. People are overworked, burnt out and have started sounding hopeless. It’s a real train wreck and I don’t want to switch firms after “paying my dues” and dealing with a lot of nonsense to claw my way to a “good” job here, but I’m not sure how long the “golden handcuffs” will truly keep me here. Actively looking at the prime of my career, looking for a place where my experience and skills can actually move the business forward.

News flash: life’s not fair & you are an expendable & replaceable asset. This post could be said about every major corporation

I would legit have no issues with the car, driver, jet, self-selected “home” office if we were seeing results. I’ve worked at other companies where the CEO, and other C-suite members, had similar arrangements. The difference? RESULTS.

Where is the innovation? The improved culture? The inspiration? Removal of the asset cap? On Charlie’s Christmas list?! Did SANTA let us down?!?

If he’s here to slice the place up and sell it off, hurry the heck up. The longer the resentments grow, the deeper the place sinks. Pretty much the whole executive and senior management ranks have been turned over - a few more than once - and we’re no better off.

The company DID change. Before Chuckles, employees were a competitive advantage. Now we are just efficiency numbers.

So is Charlie's driver black? Or is she white? Asian? Latino?

This sums up his tenure at Wells Fargo, another no win situation but it's been a very lucrative ride!!

@1iuw+1lgraEZ5 Charlie, Charlie, Charlie. Didn't your mother ever tell you not to play with the hired help? You just don't fit in.

In fact, it is rocket science. How else do you put the company in an orbit that continually circles Uranus searching for kling ons to add to the C-suite?

I think there's a sub category in Concur for PRIVATE JET but it has to be approved by the CEO :,)

Where did all the real leaders go?

As an employee, I expect to be paid at current market rates.

If I am an expert in my field, I will not accept being paid as a Teller. By the same token, a CEO should be similarly compensation.

It is not rocket science.

I remind you, this is the same bank that fired over 5,000 store bankers for not meeting aggressive account opening quotas. Fact. OCC wrote a 160 page report about it in 2020! Do you think they care what you think about commuting or rto?! Hahaha

A lot of people joined the company with the understanding the culture was changing. Most of us have left. If it hasn't changed by now, it never will. In fact, it keeps getting worse.

You work for a Dinosaur.

Amen! That's WF for ya. Do as I say, not as I do! It will never change.

Thread regarding Wells Fargo & Co. layoffs

FACTS through the lens of the Employees

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