Thread regarding Wells Fargo & Co. layoffs

Bonus expectations aka “don’t have any” per management

Basically our group has been told that we shouldn’t expect to get the same bonus this year as in previous years and that the bonus pool was smaller so don’t count on it. Funny how there were all these cost cutting measures and our 4th quarter numbers are good but somehow our bonuses will be smaller. Just another reason to quiet quit…no motivation to go above and beyond at all anymore.

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| 2114 views | | 6 replies (last January 12, 2024) | Reply
Post ID: @OP+1qxX1eLC

6 replies (most recent on top)

@ivo+1qxX1eLC

Bonus’ aren’t profit-sharing, they’re going to dole out whatever they feel they can get away with to keep the people they still need. If we were already down to the “efficiency ratio” they want and the “great resignation” was still in full swing, I bet bonuses would be great with these profits. But we still are looking to cut headcount heavily and natural attrition seems to have stalled to a trickle. Those that they’d prefer quit are lucky to get anything this year.

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Post ID: @cfb+1qxX1eLC

Net income of 3.4B and stock buyback of 2.4B, guys we have no money for bonuses and need to send more people to India!!!!!! Sorry!!!!

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Post ID: @qfp+1qxX1eLC

That has been going on every year I've been here for 15 years. They say there's no money then the quarterly results prove otherwise

With that said, I was told bonuses were flat to last year

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Post ID: @eib+1qxX1eLC

Well we’re giving $1 billion over ten years to TD Jakes to fight ‘food deserts’ that will always be there, and now we just announced A $50 million grant to the NAACP.

That’s where your bonus went, imagine how many full time employees we could have kept for that.
Hey, at least Charlie feels virtuous while his employees are getting screwed.

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Post ID: @bzp+1qxX1eLC

What group are you in?

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Post ID: @lbk+1qxX1eLC

19 beeeeeeellllllyun dollars profit after every single expense was paid this past year. Bonuses should be record breaking with those kind of numbers

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Post ID: @ivo+1qxX1eLC

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