I may get down voted for this May 2, 2024 Des Moines news article, but the title makes a statement. Greed. The rich get richer and the working man gets laid off.
https://www.desmoinesregister.com/story/money/business/2024/05/02/wells-fargo-iowa-west-des-moines-jordan-creek-layoffs-announced-ceo-gets-pay-raise/73543399007/
3 replies (most recent on top)
Interesting that it speaks about “shareholders”giving Charlie the increase. The truth is that “shareholders” are really the fund companies that have control over the proxy voting due to having most shares being held in funds. Most people invest in funds instead of individual stocks. These fund companies are supposed to vote in the best interest of those invested in the funds,but the fund companies are just a part of the same group as the CEOs. They look out for each other and the SEC just allows them to carry on.
Not saying there isn’t any truth to it, but consider the source…
Title:
"Wells Fargo to lay off more workers from its West Des Moines campus as CEO comp rises"