In the deregulation and AI buckets, laying people off. Which by the way, hasnt really helped with non interest expenses much. It certainly hasnt helped top line growth. And we keep missing earnings expectations.
I wonder how it will turn out now. Elizabeth Warren is probably firing up her Copilot Subpeonas right now.
I hate that Warren woman but love the idea of them just unloading on Wells 😁
As far a gutting the banks, Charlatan Scharf is doing a marvelous job of that sans regulators.
This is clear as he has absolutely no vision or strategy for this company, other than short-term artificial inflation of stock for his own gain.
What is criminal is his representation/justification of head-count reductions due to AI. This company can barely spell AI, much less implement it, and actually realize staffing reductions as a result.
If Wells was was forced to settle a lawsuit with investors, due to fictitious interviews, one can only imagine the liability of him peddling this narrative to them.
It’s hysterical and I’m loving every second of it. just wait until the fed, sec, occ and cfpb are actually staffed and have budgets again, and are full of people who want to gut the banks. this place is gonna be drowning in consent orders in no time, with nobody around to manage them. good job chuckles.
@bj I'd wanna go back, but I doubt my manager would hire me back. It's a complicated story that's why I say that.
@de I can't really even from a business standpoint be okay with putting themselves in a situation like that to begin with. Lay off tried and true employees and hire someone you barely know just because of where they live? That's location discrimination.
Would be so fun to see WF get smacked around by regulators again. We’re due!!! Couldn’t happen to a better bank, darn shame!! :s
Wishing Charlie and the goons nothing but the worst. Cheers, chuck!
Yeah...we trained our replacements then they ended up leaving shortly within a couple of months of us being laid off.
They really oughta be careful in doing something like that.
They'd never admit but, had they let the folks that was doing the job stay on even as remote, everything would be as they all is well.
But no. Location strategy wipes out everybody. Even long tenured employees with spotless records. Believe me I speak from 24 years experience.
The only difference is that no-one wants to come back to Wells Fargo to work. Too many better options. They drove away the best people.
So Derek is postponed retirement? Haha
Here comes oversight when we just got rid of it all!
Legislature doesn't do much on the regulation front anymore. They do grandstand in committees, but that's about it. Yes, Warren will wail, but that's nothing new. It's all she does.
We are back baby. Fraud companies cheat the customers in Insurance and banking need investigation.
political hack is back