How can Charlie sleep at night knowing that he robbed 12,000 employees and their families of their livelihoods in a single year? No other bank comes close to that in the number of laid off employees (at least no other U.S. bank). Can you even imagine ruining so many lives and just not caring?
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How can he sleep?
He is the CEO. That’s what CEOs do.
Think before being trashy.
How can he sleep? Like a baby . He has no worries. There is no downside for him. He skips to the bank either way with millions .
The only layoff that can help this company is when Shart and his HY carpetbaggers get laid off.
March is scheduled to be a big month for layoffs.
No, it's not true. We're not capable of downsizing that many in that short of a period of time. Much more than that will eventually be displaced / outsourced, but 50k in Jan? No.
Is Wells Fargo laying off 50,000 next month is this true?
There's nothing less relevant in 'todays world' than paying for useless admin buildings, so I'll believe that's what they are shooting for when they fully embrace BYOD and WFH. Hudson Yards isn't embracing anything but the 1980s.
12,000??? LOL!!! Wait for the 50,000 that's coming next month. Enjoy!
I can only imagine how many su----es have occurred with this slow drip of layoffs. Yes, many of you beg for packages, but some don't have the interview skills or confidence. Many have families and are suddenly blindsided and ill-prepared. I know about the man who jumped to his death a few months ago, and I'm sure there are others. Then they talk about mental health on teamworks. Sick ceo.
You remind me of my ex who says she is “over me”, but still drives past my house. It looks like you are “spending all your energy” attempting to prove you have risen above it all on the layoff site of the company that eliminated you. Or your story is bs. Either way, If you say you have moved on - please do.
@ xvl+1qhf4RlY it’s not “no empathy”, it is refusing to wallow around feeling like a victim. I was able to get a high paying non-mortgage job elsewhere because I skilled up and learned some new technologies, instead of spending all of my energy complaining about a CEO or company I used to work for.
And we still have more employees than other companies with less revenue.
Maybe if Wells would have continuously managed headcount over the years we wouldn't be a bloated company.
The mortgage business is notoriously bo-m or bust, so you knew exactly what you were getting in to. Additionally- you make much more in the bo-m periods which makes a layoff less damaging to you, compared to some of our lesser-paid back office employees.
I dont get your “no empathy” angle, but that’s probably the same attitude which keeps landing Wells Fargo in trouble with the regulators over unethical mortgage lending practices.
Demons don’t require sleep.
Ask him!
Not only does he not care, he "feels good about it". Direct quote from interviews. In any event, RIF is a fact of corporate life, but intentionally terrorizing your employees isn't. Citi is downsizing 10% in 2024 and they are ripping the band-aid off. All 10% in a single quarter. None of this drip drip drip for years on end BS like Chainsaw is pulling. He also routinely lies about trying to keep impacted employees by transitioning to other roles. It may happen in extremely rare circumstances, but when it does it's in spite of their best efforts, but because of them. He even ki-led the Star program that gave a few people temporary work. The fact of the matter is, Charlie wants all domestic workers gone. Not some of us, all of us. He wants to be the plantation owner with all his workers in cheap foreign countries. Once mortgage and branches are gone, there will be little need to have US workers. Everything else can be contracted, automated, or outsourced.
He didn’t “rob” anyone of anything. Nobody is guaranteed a job and it goes both ways, you can quit at anytime. I was laid off in mortgage last year but our team had gone months with hardly any work coming in because rates had increased. Why would the company keep me on at a six figure salary with no work to do?
Get your head out of the sand! You can't be serious with this question:
"How can Charlie sleep at night knowing that he robbed 12,000 employees and their families of their livelihoods in a single year"?
Layoffs have been a part of the U.S. business culture for decades. When firms need to cut costs bloated employee head counts are always prime targets.
Trust me, every single CEO sleeps like a baby after a RIF exercise. Has been and always will be a corporate fact of life.
Time to wake up and smell the coffee!