What are the chances of cuts next week? As a special Christmas gift from Charlie to all of us.
17 replies (most recent on top)
"There's no indication that Hudson Yards cares about cutting expenses. None. They are here to purge the domestic workforce, which is not the same thing".
The naivete here is breathtaking, but understandable. Of course the BoD's are not running out and putting up neon signs in Times Square indicating how well the expense cutting strategy is going.
Absolutely agree 100% the BoD's main goal is not only "purging the domestic workforce", they are also closing down the obsolete branch offices. Both of these actions are first steps in the cost cutting (EXPENSE ITEMS) exercise that is currently underway.
Employee headcount and obsolete branch eliminations are easily doable quickly and that's why they are first steps.
Again, totally agree "If they wanted to cut expenses, they'd shut down the admin buildings, get rid of DEI, end racist supplier policies, end stock buy backs, and stop making deals like spending $500M on real estate in NYC we don't need". These actions will be taking place during 2024 just give it a bit more time. Some very, very touchy items listed there.
There's no indication that Hudson Yards cares about cutting expenses. None. They are here to purge the domestic workforce, which is not the same thing. If they wanted to cut expenses, they'd shut down the admin buildings, get rid of DEI, end racist supplier policies, end stock buy backs, and stop making deals like spending $500M on real estate in NYC we don't need.
Are you allowed to say Christmas anymore? It's the holidays. The best present for us well-prepared "quiet quitters" would be the meeting.
"No one has said wow look at how efficient wf is now with the cuts, they are underpriced, let’s up their rating"
WF efficiency or lack thereof has nothing to do with BoD's layoff odyssey pal, it's all about the cost cutting of the bloated headcount numbers and the obsolete branches that are impacting the bottom line here. The CEO is doing the job he was brought in to do. Cut expenses.
Open your eyes pal.
They will happen, just with lower numbers than normal. After all, HR peeps need some holiday time, too, and so can't handle the volume of chops that a normal bi-weekly purge has.
Please Santa…… let it be me….
I wouldn’t be the least bit surprised. Senior mgmt are corrupt and heartless.
@rwm+1q7xaRnU The recent stock price jump has zero to do with layoffs. Wf is benefiting from a general market run up. No one has said wow look at how efficient wf is now with the cuts, they are underpriced, let’s up their rating. Rising tide lifted all boats here bud
Praying for it
the every-two-weeks-after-payday cadence is on pause now through mid january, at which time it will resume and continue indefinitely.
@rwm - don’t disagree. Problem is in my area it seems like every single day there are more and more fires to put out with less and less people. So much more difficult to meet deadlines for issues, corrective actions, everyone is running around scrambling, etc. It’s simply a mess and the total opposite of what it feels like it should be for a company trying to get out from under an asset cap. It feels like this is a short term gain and long term it will get exposed of the deeply rooted problems we have of how grossly mismanaged this company is
Let me translate for you: when people complain about the actions of "WF", what they really mean is the actions of the incompetent, lying, overpaid, pieces of S in Hudson Yards. They very much are people, and evil ones at that. F every one of those worthless turds.
100%.
Can’t have that Hasbro post Bro. They advertise here hence its deletion. And this site doesn’t mess around with edits, faster to delet.
Why do folks continually think that Corporations have feeling? You are personifying an intangible inanimate object with that mentality and only doing a disservice to yourselves. Legacy dreams from the days of Gold Watch retirements that haven’t existed for decades.
The same goes with complaints about bonus’, raises, 401k match, etc. You should be negotiating your base salary with the idea that all of that falls apart and fully expect to be laid off any day from Wells. Makes my days at Wells stress free.
Hasbro did it, so why not? He’d probably consider it a gift to himself, the board, C Suite executives, and shareholders. Ho ho ho.🤮
"Christmas layoffs
What are the chances of cuts next week? As a special Christmas gift from Charlie to all of us".
While it may not be as obvious to you as it is to others who make profits for a living, the layoff policies/protocols the CEO was brought in to accomplish are working to the delight of the BoD's/shareholders. The closing price of 50.31 per share of WF stock this past Friday is a clear indication that the layoffs are working to improve the bank's bottom line. After all is said and done that is what the BoD's/shareholders want to continue. Reducing costs via layoffs and branch closings will continue no matter what the calendar reads.