Thread regarding Wells Fargo & Co. layoffs

i read this in the paper this morning... this is a must read for everyone here, sad stuff

https://www.wsj.com/business/greg-becketts-life-seemed-to-be-going-well-then-he-ended-it-at-work-e9417662

Greg Beckett texted his girlfriend one Thursday evening in January. He was working late, he told her—eat dinner without him.
“I was told to ‘not leave if possible,’” he wrote. His girlfriend went about her routine.
A few hours later, the 46-year-old Wells Fargo employee jumped to his death from the 14th floor of the bank’s Wilmington, Del., building.
He left no note. His final messages betray no obvious signs of distress. His brother, Dave Beckett, said he was gossiping with high-school buddies by text message minutes before his death. Months later, his family and colleagues are still struggling to piece together how things went so wrong.
A few hundred people end their lives at work each year, a small but noteworthy number that has mostly risen alongside U.S. su----e deaths. Many of these acts are violent and shocking. They leave family and colleagues without answers.
That has put companies on the front lines of what health officials consider to be a mental-health crisis. Nearly 50,000 Americans died by su----e last year, a 2.6% annual increase, according to the Centers for Disease Control and Prevention. Much of the public remains unaware of mental-health resources, such as the 988 Su----e & Crisis Lifeline.
The number of workplace su----es fell during the pandemic, when people were working from home. But as people returned to the office, there were some high-profile examples.
They include a software engineer at Google’s New York office in May and an airport worker on a tarmac in San Antonio in June. Thomas H. Lee, a private-equity investor, died by a self-inflicted g-nshot wound in his office in February. Workplace su----es have also taken place over the past decade at banks including JPMorgan Chase and Bank of America.
Employers, especially in September, su----e prevention month, have increasingly urged workers to look out for signs that their peers are struggling. But the signs someone is considering su----e can be subtle, and the reasons elusive.
Some people might end their lives at work to spare their loved ones from having to discover the body. Others might do so to send a message about how they felt that they were mistreated at work, said Larry Barton, a behavioral scientist who works with companies in the wake of workplace su----es. He said calls to his practice from companies working through mental-health challenges or su----es are up by a third so far this year.
Companies face a wrenching task in responding. Executives must demonstrate compassion for workers and the victim’s family without broadcasting too much detail on how the person died, Barton said. Workers’ personal matters are typically referred to the company’s employee assistance programs.
“We’re deeply saddened by the loss of our colleague,” a spokeswoman for Wells Fargo said in a statement for this article. “Greg was a valued member of our team. As we all know, it’s virtually impossible to identify a reason when a tragedy like this occurs. There is nothing more important to all of us at Wells Fargo than our colleagues’ well being.”
Dave Beckett, 54, said he was surprised no senior executives represented Wells Fargo at his brother’s memorial service. Some of Greg Beckett’s colleagues attended. Wells Fargo sent flowers.
When a human-resources worker contacted Dave Beckett with information about his brother’s life insurance and where to send his last paycheck, she hadn’t been briefed on how he died. When Dave Beckett informed her, she gasped and quickly ended the call, he said.
“He had personal accountability to that place, and that place had no accountability to him,” Dave Beckett said.
Wells Fargo, which has been nudging workers back to the office, told its Wilmington-based employees that they didn’t need to be in the office the week after Greg Beckett’s death. It paused monitoring of those swiping their badges to enter the building, but the memo saying so didn’t go out until workers were already coming in, people familiar with the matter said.
On their way into the building on the Monday of that week, workers noticed the conference-room window he had jumped from was boarded up.
Scott Powell, the chief operating officer at Wells Fargo, said that the bank’s top executives were made aware of Greg Beckett’s death and that the company communicated with employees about it. Senior human-resources people were on site to meet with employees.
At a companywide meeting in May, which is mental health awareness month, Chief Executive Charlie Scharf spoke about managing work stress and mental health. He relayed personal stories and talked about the importance of open communication.
Greg Beckett worked on Wells Fargo’s internal controls, which are meant to protect the bank from risk. It is in the middle of an intensive effort to revamp them. In the fall of last year, hours got longer for him and his colleagues. Around mid-December, he became more noticeably stressed, his loved ones said.
Sometimes, he would break for dinner and then log back in. He took meetings as late as 11 p.m. One planning call would be interrupted by instant messages telling him to hop to another, and another, Greg Beckett told his brother a few weeks before his death.
After his death, a manager in another group working on controls wrote to his team, saying that Greg Beckett “had been working on a number of high importance, high stress projects at work for an extended period of time.” He noted the importance of managing that stress, writing: “If we don’t find healthy ways to address it, there will be negative consequences of one form or another.”
Greg Beckett’s life outside of work seemed to be going well, Dave Beckett said. He had recently moved in with Giovanna Muraca, his girlfriend of a year, and her daughters. They accompanied him to his family’s Christmas Eve dinner for the first time.
His Philadelphia Eagles were having a strong football season and went on to the Super Bowl. When they played at home, Greg Beckett and a group of friends tailgated outside the stadium, each time in the same grassy spot. Out of superstition, he wore the same sneakers, socks, jeans and jersey.
Greg Beckett doted on his dog, which he sometimes held like an infant with his hands under her bottom and her head resting on his shoulder. He once dressed up in a Barney costume in 100-degree heat for his niece’s second-birthday party. He texted his friends’ spouses about the Real Housewives’ latest dramas. He stopped by his parents’ house to mow their lawn and take out their trash each week.
He and Muraca had been part of the same group of friends for years, but only became romantically involved later in life. They talked about getting married.
On the night of Jan. 19, Greg Beckett stopped responding to text messages and phone calls from Muraca and his family. He was supposed to pick up his dog from his parents, and wasn’t answering questions about when he would be there. They worried he might have been in a car accident. His brother and sister-in-law drove to his office at around 10 p.m. to try to find his car. They found police blocking off the parking lot.
Greg Beckett’s Eagles jersey was still at the dry cleaner in preparation for that weekend’s divisional playoff game. It would be displayed at his memorial service the following week.
Help is available: Reach the 988 Su----e & Crisis Lifeline (formerly known as the National Su----e Prevention Lifeline) by dialing or texting 988.

by
| 6091 views | | 57 replies (last October 5, 2023) | Reply
Post ID: @OP+1oR9biuW

57 replies (most recent on top)

This is what happens when you tell people their careers are literally in the balance with RCSA. Stop all of the stupid pressure.

by
| | Reply
Post ID: @5gxe+1oR9biuW

@5zaq+1oR9biuW

The regulators are making us fix what was broken by Carrie T. Because of Carrie T, now customers, politicians and even our own employees hate Wells Fargo. People need to realize how harmful WF executives are to our society. If Beckett didn't jump, maybe he was pushed by WF executives.

by
| | Reply
Post ID: @5zfq+1oR9biuW

May this lost, desperate, hurting soul, Rest In Peace.

by
| | Reply
Post ID: @2deg+1oR9biuW

@2ywc+1oR9biuW

Dude, you are feeling like a bad person for a reason. Just be thankful you’re able to miss work whenever you feel like it and still keep your job, that didn’t always happen throughout history. Stop caring what others think.

by
| | Reply
Post ID: @2dmd+1oR9biuW

I have had enough of hearing you guys say how people with FMLA ditch work and other people have to do it for them etc etc you have no idea. Taking FMLA is not only hard enough because you have to admit you have a problem but then you have to deal with this kind of cr-p making you feel like you're a bad person. When I have to take an FMLA day I have to make up my own work it messes up my metrics and then I have to explain why my metrics are off and why I can't keep up with my workload which then stresses me out even more. If you don't know what someone's medical condition is and why they have to take off of work for it you shouldn't make ignorant comments because you literally could be that person someday and I hope to God that you don't have to go through that.

by
| | Reply
Post ID: @2ywc+1oR9biuW

@1btn+1oR9biuW

You said, "It’s regulators and legislators that are the primary issues here. If businesses were simply allowed to do business, no one would have any stress."

But the regulators are all over us because the corrupt WF executives were simply allowed to do illegal business in the first place. Carrie T and the top executives were the primary issues. That's what brought us to this point. GET REAL!

by
| | Reply
Post ID: @2saj+1oR9biuW

@1osa+1oR9biuW

Wrong. If there’s an increased number of Friday Monday leave act requests, it’s because people are lazy, and lazy is contagious.

I was just watching Men Who Built America today and let me tell you, Henry Frick wouldn’t have put up with that cr-p.

by
| | Reply
Post ID: @1shw+1oR9biuW

@1zxr
More gaslighting blaming an employee for taking fmla. If there is an increased number of fmla requests, that is the toxic workplace causing people to become desperate enough to request fmla. Go away with that nonsense

by
| | Reply
Post ID: @1osa+1oR9biuW

RIP, Greg Beckett. I agree, as a previous poster, that CS should address this at the town hall. But he won't. We'll hear about DEI, green initiatives, etc. In 2 surveys this year that I usually ignore, in both I told them to stop gaslighting us with mental health garbage on teamwork. I said to stop offshoring our jobs, make us feel secure and treat us like human beings. How many su----es have happened this year and last since the downsizing started? Many that we don't hear about, I'm sure. And yes, those of you that don't do your share are also part of the problem.

by
| | Reply
Post ID: @1ouw+1oR9biuW

Stop blaming the regulators, they are just requesting WF to correct all the issues created by Carrie T and the top executives. The bottom line, the root cause is all about mismanagement by the corrupt leaders of Wells Fargo, and the issues still continue today.

by
| | Reply
Post ID: @1lpl+1oR9biuW

@1pbe+1oR9biuW

Agreed. I bet you this guy had multiple coworkers on intermittent FMLA that could ditch work responsibilities whenever they felt like it and it stressed him to the max.

by
| | Reply
Post ID: @1zxr+1oR9biuW

I see the downvoters & contrarian bank supporting commentators have come out today.

by
| | Reply
Post ID: @1xub+1oR9biuW

@1bhm+1oR9biuW

Exactly! It’s regulators and legislators that are the primary issues here. If businesses were simply allowed to do business, no one would have any stress. But thanks to people like lizard Warren, corporations have ridiculous burdens placed on them to comply with a bunch of no good cr-p and the result is undue pressure on the employees that work for those companies. Make no mistake about it, the executives you guys are all bashing have WAY more weight on their shoulders than anyone. Take away the Dems and our execs would live stress free, and that would trickle down to us.

by
| | Reply
Post ID: @1btn+1oR9biuW

WF puts way too much undue stress on people. People are on pins and needles wondering if they are going to lose their job, not based on performance,’but by their address. It’s disgraceful that not one executive could take the time to pay their respects. It’s shameful! SP could have used the jet!! My heart goes out to his family. This is a senseless, avoidable tragedy.

by
| | Reply
Post ID: @1udl+1oR9biuW

@1bhm+1oR9biuW. Internal controls can't work for both Risk & HR when things are swept under the rug. Old School bankers that know their business, know the regulations, etc do not exist here. Shows what happens when friends of friends get hired & supported in their cliques. You can't put a Lowes Project Manager in charge of Risk & Regulatory work. They look after themselves, not the bank. That means if anyone reporting to them is any good, they will knock them off the team or down as they feel insecure about their "Manager" status & job/livelihood is at stake if someone is knocking it out of the park. This is how you get mediocrity at a bank.

by
| | Reply
Post ID: @1pqm+1oR9biuW

I wonder if the regulators feel at all bad, cause i blame them in large part for the insane stress on employees here. Like you have to have reasonable demands. SVB didn't even have regulators doing basics on ALCO. The regulators also had a number of banks loading up on treasuries that are now under water. They even broke their own rules and allowed JPM to pick up FR and now have concentration risk with JPM. To top it off other banks and not just this place had bad sales people opening up dummy accounts for incentives, why does this place have a asset cap. And the management here is a absolute joke, its like the d-mbest rise to the to top, they can't get the job done because the requirements are over the top and then jump to another bank after a couple years.

by
| | Reply
Post ID: @1bhm+1oR9biuW

https://www.dailymail.co.uk/news/article-12577517/Wells-Fargo-executive-46-jumped-death-banks-Delaware-offices-leaving-shocked-family-searching-answers.html#reader-comments

by
| | Reply
Post ID: @1ois+1oR9biuW

@uqu+1oR9biuW. Post after 6pm on Friday before a bank minion can take it down. Looks like they only work M-F.

by
| | Reply
Post ID: @1hmh+1oR9biuW

"I would like to say i’ve posted about this multiple times since Jan 23 on this site and my comments or post always got deleted."

I tried to verify, but all that was mentioned in the comments I saw was Wilmington, and I assumed NC. I also replied to the comments I saw, asking for a source, and never got one.

by
| | Reply
Post ID: @1bdh+1oR9biuW

@1rcp+1oR9biuW Yes, here it is:

https://www.instagram.com/p/CodAG4rPf9-/

by
| | Reply
Post ID: @1xsq+1oR9biuW

@txf+1oR9biuW. If it's not managed well, which it isn't, these are the results. Individual contributors trying their best in a sea of mismanagement & lack of direction. Add to that, the dead wood people, the offshoring (where little meaningful work is done) & you get people like the guy described in the article with the weight of the world on their shoulders, if they let it get to that (ie: they care or don't see a way out).

by
| | Reply
Post ID: @1yqu+1oR9biuW

I thought the bank was touting "work/life balance" a few years ago.

This article shows the consequences of poor management. Can't manage workload & their teams.

by
| | Reply
Post ID: @1qfn+1oR9biuW

I mean ask CS

by
| | Reply
Post ID: @1jef+1oR9biuW

we should get a campaign going to ask CD about this in his Town Hall this week

by
| | Reply
Post ID: @1lgw+1oR9biuW

What a horrible tragedy.

I share this to hopefully help people under this level of stress get perspective. WF has tried to drive me into the ground more than once and not until I thought of what was happening in this way was I able to disconnect.

You are not accountable for the fact that the company has more work to do than workers. More work to do than broken manual processes can reliably support. More work to do than outdated thinking can scale to. You are not accountable for the failures of Wells Fargo as a company.

I have had my share of toxic managers who will verbally and emotionally abuse you to convince you otherwise. Do your best but do not take in the weight of what the former executive management of this place has to done to itself.

by
| | Reply
Post ID: @1iat+1oR9biuW

I would like to say i’ve posted about this multiple times since Jan 23 on this site and my comments or post always got deleted.

by
| | Reply
Post ID: @1xgb+1oR9biuW

Post ID: @1zqu+1oR9biuW about 2 months after this a lady with 2 small kids in
ATL did the same. Again the entire controls knows and they are functioning as BAU. I literally told HR I was on the verge of a nervous breakdown bc of RCSA travel, hours and crazy schedule and they shrugged and said oh well. The only way off was to find another job.

by
| | Reply
Post ID: @1rcp+1oR9biuW

RCSA is stressful for the teams going through it and the ones implementing it. We are understaffed on many teams and the pressure is mounting.

Heartbreaking situation.

by
| | Reply
Post ID: @1kxq+1oR9biuW

@1tnc+1oR9biuW Heard this isn't the first.

by
| | Reply
Post ID: @1zqu+1oR9biuW

Article now in the Daily Mail. No firewall.

by
| | Reply
Post ID: @1qfu+1oR9biuW

@nmt+1oR9biuW

Wells Fargo leadership should have accountability to every employee. His blood is in their hands.

by
| | Reply
Post ID: @1vbn+1oR9biuW

Considering the highly toxic environment of Wells Fargo, something like this was waiting to happen. The corrupt executives and managers are 100% responsible for causing this. The poor victim's family should sue Wells Fargo for Charlie's entire salary, and some executives and managers also need to get fired. Otherwise, there may be more victims in the future.

by
| | Reply
Post ID: @1tnc+1oR9biuW

Bro literally never give a fck about your job. It is meaningless. Do what you gotta do — work hard if it helps you achieve your goals — but never take it seriously!

I laugh every day!

by
| | Reply
Post ID: @1pqa+1oR9biuW

He was working on RCSA. RCSA knew he jumped, removed him from skype within the same week he jumped. controls knew the working condition of this project was causing harm and they literally did nothing. business as usual, as somebody who worked on RCSA FST im here to tell you there are multiple employee abuse allegations that HR, allegations are aware of. Trust me if any of them hit the blogs it will collapse what’s left.

by
| | Reply
Post ID: @1lne+1oR9biuW

Jobs are meaningless in the grand scheme of things, so sad people would take their lives over something so unimportant … a lot of workplace stuff going on at WF from bringing we-pons into the office to threatening co-workers, etc. - way too much time and energy being wasted on a job

by
| | Reply
Post ID: @1cyq+1oR9biuW

When my father passed, co-workers came. That was fine . When my mom passed, my supervisor and another manager came to her funeral. I wished they had not. A card would have been fine.

by
| | Reply
Post ID: @1dvn+1oR9biuW

This demonstrates its beyond poor and incompetent leadership. They’re (the OC) unethical, immoral, bad people . Sc--w us at every opportunity, and when a man takes his life because of the way they’re running Rcsa , they don’t even care about that.

by
| | Reply
Post ID: @lns+1oR9biuW

Other than his workplace there appears to be no other stressors from this read. RIP my friend.

by
| | Reply
Post ID: @gzi+1oR9biuW

Let’s see how quickly WF tries to “erase” this tidbit of truth from the site.

Completely disgusted at WF. Sorry for this man’s loved ones. RIP.

by
| | Reply
Post ID: @uqu+1oR9biuW

Disgraceful if no one from the WF executive team showed up “in person” to offer this man’s loved ones condolences. If working on RCSA, it was/is a critical business initiative. He may not been an executive which only means his contribution was FAR greater than theirs! Absolutely disgusting!!!

by
| | Reply
Post ID: @imh+1oR9biuW

Post a reply

: