This article lays out how bad things are. With revenue falling, that means even more layoffs beyond the $4B promised to Wall Street to right size the organization. https://www.barrons.com/articles/jpmorgan-chops-facebooks-target-price-and-earnings-estimates-1537285353
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Yep...just now (9/20/2018), Tim Sloan said 5-10% staff reduction over 3 years. Up to 26,500 people over 3 years. Talking about severance, resume writing services, etc.
Wells Fargo CAUSED all this!!!!! Awful. Many lives affected. Just like the lives of all the customers they screwed.
All the corrupt leaders stay, but the worker bees get pink slips. Unethical.
“5-10% staff cuts across the board” Tim Sloan
How about the sales side? RM - CA
not hearing about any percentage or job families elimination. am hearing Wholesale has additional task which will accelerate combing operational groups, eliminating overlap operational positions or move them to egs, elimination of cross sales and marketing groups, consolidation of overlap positions with technology, data and risk positions moved to enterprise through move the lines program. Perry wants all the moves done by end of year. will be a blood bath as they cut 7500 positions
Do you know what areas in wholesale? Job families or percentages?
Wholesale reorg within approx. 2 weeks, initial staff cuts by end of October. Understandably, staff (across the board) is nervous and exhausted.
This protracted limbo is no way to treat employees. Awful environment... right before the holidays, too.
I think the link below is what the poster meant to attach. I've heard the $4 billion in cuts is now more like $6-8 billion at best.
https://www.barrons.com/articles/wells-fargo-could-remain-stuck-in-a-rut-1537291182
am I missing something? That link is about facebook, not Wells Fargo