Thread regarding Wells Fargo & Co. layoffs

"golden parachutes"....that's soooo '80s.

The LSM and PTB never even mention golden parachutes anymore. The negative connotation is bad for business, as they know the reason to take the helm of these large banks and corporations is not to really make them more profitable, but rather to monetarily rape them during their tenure.

The trick is to keep the other stock holders happy so that when they eventually get left holding the bag, they can at least say, "Well, I did pretty good with these guys...no biggie." And pension fund, mutual fund, and 401K investors won't notice it as their holdings are spread out.

Oh, and the employees who lose their jobs in massive "restructuring" and the vendors who get screwed? Ah, too bad.

The corporation ( a legal 'person') takes the hit, meaning the breathing life entities walk...or at best does a few years in a minimum security prison...with time off for good behavior. Now, hold up a liquor store with a gun and get $127.32...you're going away for a very long time (because, after all, we're a nation of laws!) LOL

AMEN to the previous poster! 100% true!

We need to stop praying at the shareholder altar. It leads to corruption, which begets more corruption.

And corrupt, amoral execs DO need to start going to prison. Elites walking free while people with much lesser crimes are imprisoned should cease. But it won't, because life is unfair and privilege belongs to those with all the gold.

Our country and others that laud greed are an embarrassment. No humanity. People in Flint and Puerto Rico continue to suffer while bank execs (would-be-cons) are living in mansions, eating 5-star meals, draped in their golden parachutes.

Wells has always been evil, same for Citi, BofA, Goldman, and the rest.

Break up the banks, they're too big to manage. Stop paying CEO's with stock, it incentivizes risk taking and bad behavior. Tax capital gains like regular income so rich people go back to appreciating money the way average Americans do.

And everyone get over their need for perpetual growth.

The unreasonable demand for perpetual growth is k--ling Capitalism. Shareholder supremacy is k--ling America's middle class.

A business should be able to have a bad quarter, or year, without layoffs just to placate shareholders, these are people's jobs, America jobs, people with families and health issues and mortgages.

And let's see some perp walks and trials, and instead of a judge and prosecutor who are members of the same frat as the bankers/criminals, we have someone who lost their home in the Recession on the bench and jury of people who lost their jobs after 2008.

I agree with previous poster. WF was always an awful company to work for. Those who like it are typically lifers who have no means of comparison. Cold and unfeeling culture.

People who do well at WF are just that... cold, unfeeling and selfish ... and/or greedy/corrupt. It's always been a backstabbing, cliquey, CYA culture, with every man for himself. Why help a colleague when there's nothing in it for you?

There is absolutely no soul at WF and never has been.

It's been smoke and mirrors for over a decade. I'm glad this POS company is finally getting noticed for what it is. The arrogant, holier-than-thou b--tards needed to be cut down a few notches.

WF's "Living Will" is available online; along with the multiple FDIC letters noting items that need additional work....appears WF isn't too concerned since "Execs" have ALWAYS landed on their feet, while "Team Members" are left to Tuck & Roll. Who Knows? Maybe smaller WF regional entities will treat their employees & customers better?? One can only Hope.

WF was always a bad company to work for even when I first worked there in 2005. There was nothing good about it. If breaking it up so it can be held accountable is best then do it quickly!

This is the same leadership who wants employees to shut up and get in line, or be let go. No dissention or disappointment allowed.

How dare employees have the audacity to be upset with leadership for taking this well-respected company that employees worked so hard to create and destroying it virtually overnight, throwing customer and employee lives in turmoil.

Screw you, WF leadership. You know NOTHING about how to ethically run a company and how to treat customers and employees with the respect they deserve.

I hope you all rot for what you've done, because that's what YOU deserve.

So instead of taking consent orders seriously from the beginning and complying with them (thus, lifting the cap), Wells would rather dump businesses? Pathetic.

And people wonder why WF leadership is deemed ineffective and incompetent?

WF execs only care about their piles of gold -- not about customers and employees.

The only reason for sell offs is so they can concentrate on their core businesses. The asset cap is not allowing the bank to grow so in order to stay under the cap this is the path they have chosen .

Wells Fargo was a good regional bank. Hope it goes that way.

Yes the plan which I was told when I worked in corporate risk was to sell of all divisions and WF will go back to its roots of being a wholly community bank. This was when they failed their "Living Will" requirements a few years ago as mandated by the FDIC AND Federal Reserve as part of Dodd Frank.