Layoffs are 100% happening the week of 3/21/23. FACT!
Now it’s time for a quick rant:
Sooo…. Now that our leadership has decided to We*ponize RTO and spend their days scrutinizing the RTO reports when they should be doing their jobs! Any employee that currently works in the trenches would’ve had the RTO report stood up in a week! Way to spend millions of dollars for these so-called “senior leaders” salaries when they can’t even work an Excel spreadsheet! Great job, BOD! Lmao! You guys really know how to pickem BAHAHA!!!
Here’s a thought, How about you chumps start addressing these fines that are received from regulators every year, and then allocated as an expenditure. This is the real reason why our efficiency ratios are so high! Just look back the past five years and remove the fines. The efficiency ratios, drastically change, and or more in line with our competitors. I’m sure they failed to mention this in the company town halls. If you actually do the math, you would see that our overall efficiency ratio is similar to our competitors. However, we are fined much more often than our competitors, and since the company is habitual offenders, defines are very significant! It’s been five years and there’s been zero progress! In fact, we have gone backwards. Thanks captain Stubing! Go get your effing Shinebox!
On another note; Let’s review the inequality staring at us all in the face such as stock buybacks, raising dividends for shareholders who are already millionaires. I guess Mr. K Santos is too busy lining his pockets with his most recent sale of 34,000+ shares worth over $1.5+ million dollars he sold last week. If you don’t believe me, check the SEC website yourself or this link: https://www.americanbankingnews.com/2023/03/02/kleber-santos-sells-34698-shares-of-wells-fargo-company-nysewfc-stock.html
The writing is on the wall folks. Our leaders are literally spending all their time scrutinizing RTO reports thinking that this will be a cost saving exercise for them. In reality, all this is doing is raising our risk and removing what little talent is left at the company. Don’t you think senior leadership should be focusing on what they were hired to do? Last I checked, the company is on target for another round of hundreds of millions of dollars in fines(public information). Meanwhile, the companies leaders are doing stock buybacks and selling shares for millions in profit.
I personally could care less about RTO, and frankly, I’m getting tired of hearing people complain about it. If the company ask’s me to be in the office, then I will be in the office(yes, I agree. It doesn’t make sense). The only part that bothers me is the fact that our CEO has already failed once at this RTO initiative at BNY Mellon! How does this Jabroni keep failing at everything he does, yet still receive millions of dollars in raises. He should be rated nowhere near a meets expectation ratings! Our CEO has failed repeatedly and he knows it! So what does he do you ask….he has made sure to insulate himself with the hiring of so-called new senior leaders aka dinosaur rejects from the other banks! This way he can point the finger at someone else when more fines come through. The only thing our captain is good at is repeatedly failing!
The sad fact is not a single employee is happy working for this company. They have made a mockery of every policy that has been put in place. They OK these new micro-managing company policies, yet they make sure it doesn’t apply to senior leaders. An employees attitude is reflected by their leadership! No wonder it’s such a toxic, ineffective, bias, work environment!
We need to stand up to these Johnny wisenheimer’s. I suspect after the next big layoff in March that many employees affected will not be signing any sort of severance package agreement. Remember that a company cannot in force you to do this in order to get severance because it is no longer enforceable. I think the company is underestimating the power of the US domestic employees. Just take a look at all the agencies, regulators, customers, and the various probes into the companies business practices. I think a lot will be uncovered after the next wave of layoffs. Now that they have their team stood up overseas, there will be a serious US domestic headcount reduction.
But fear not, there are greener pastures ahead for all that are affected. I remember when it was an exciting thing if someone got a job aboard the stage coach. Today the environment is so toxic, employees are ready to jump off this thing while it’s in motion.
I find it amazing that the BOD is so out of touch with what’s going on at the company, and yet they still give these wisenheimer’s raises, preferential, hiring, and much much more that I can’t say.
Be ready folks, we’re about to be hit with many fines(public knowledge) due to lack of compliance and risk management. What happened to this guy leaning in and being laser focused. Maybe if we got the dinosaurs out of the company, you may see some progress. Until then, it will be the same ish different day.
Don’t hate, because I speak the truth! Anyone affected by this upcoming layoff, keep your head up! As I said, before, Greener pastures await and you may even feel valued at your new job. Currently, our workplace environment is more toxic than ever! You can thank our captain who is steering the ship into many new regulatory fines, lawsuits, discrimination, and R-Kellying on old ladies. I captain once called this place a cult. In reality, he has insulated himself with a bunch of rejects, who have already failed at their job. Through an employee lens, it sure looks like the captain is also the cult leader. Don’t be mad because I speak the facts! See you jabroni’s at the next BOD meeting.
I sincerely wish the best of luck to all those employees, and your families who are affected by this next round of cuts.