Thread regarding Wells Fargo & Co. layoffs

Tim Sloan live testimony congress 10-3-2017

/>

by | Post ID:
1384 views | 13 replies (last )
Comment! It's anonymous! Reply to this post anonymously by submitting the form near the bottom of the page!

13 replies (most recent on top)

Tim Sloan is so dense. WF had already published on the Internet they plans for streamlining, automation, and offshoring and layoffs have already been documented by newspapers on the Internet as they happen.

by | Post ID:

Tim Sloan - here is what's next (and present):

  • streamlining,

  • automation, and

  • offshoring

All of this translates to: JOB LOSSES and LAYOFFS!

Here is my questions. Almost all WFB money comes from the USA, you do business here and you make money here. Why in the world you want to spend all your money outside of this economy and offshore work? Makes no sense, you use the USA to extract profits but you want to shift most of that money outside of the USA (aside from the chunk that the Executives keep for themselves and dividends that they pay to shareholders and foreign sovereign funds that represent a large chunk of shareholders).

I just do not get it, why we as a nation allow things like this is beyond me.

by | Post ID:

This is from the trenches: He's either completely disillusional or a complete liar. No person in trenches supports him or what they did or what they are planning to do (massive layoffs).

by | Post ID:

Tim lies! He told the senate banking committee WF has 15,000 open jobs and displaced workers would have a shot at those jobs. Tim lied about the number of open positions. There are 3,010 open domestic jobs and 269 jobs globally outside the US (10/4/2017 7:13 ET) Maybe this should be reported to the ethics line! Naw it's more fun to watch senator warren go gorilla on Tim!

by | Post ID:

Sloan is either lying, delusional, or both. 270,000 employees most definitely DO NOT support him. Possibly some in the C-suite do, I don't know. But for the rank and file it's definitely a case of "meet the new boss, same as the old boss". Nobody believes or trusts him.

by | Post ID:

Elizabeth Warren calling Tim Sloan out for cutting $4 billion dollars in costs which would equal to laying off 20,000 employees to cut 8% in operating costs.

/>

by | Post ID:

Don't kid yourself. Cuts are coming. Not trying to scare folks but it's the only way to save $4B. Some of that will come from the sale of some businesses like insurance. But most of it will come from employees being let go. Even if you think your job is secure, take charge of your career and be ready in case. Many times good people are let go simply because the executive management said we are cutting X and so we need to fire X number of people. It's a stupid strategy as you can't cut your way to long term profitability but the shareholders will like it.

by | Post ID:

Well when Elizabeth Warren stated that WF was going to aggressively cut $4 billion dollars in costs, including streamlining, automation, and offshoring. Tim Sloan denied that there would be job cuts and that as a CEO he has to please the shareholders as well as the employees. Contradictory statements I say.

by | Post ID:

Tim Sloan socialized and was friendly with both John Stumpf and Carrie Tolstedt and was appointed into his various roles for the last 6 years by John Stumpf himself of course he's involved.

Follow the stench.

by | Post ID:

During the testimony Tim Sloan said he had the support of all 270,000 employees even though they didn't vote him into office, but rather he was appointed by the board of directors, whom he said shouldn't be fired because they took steps after the fact to make things right.

by | Post ID:

I Thought the fact that he couldn't explain the outsourcing and the fact they are already laying off and outsourcing. He stated he couldn't say how many more would be laid off and they give preference to employees but if there are not jobs out there to put in for how can you you get preference?

by | Post ID:

I saw most of it he was very apologetic and deflected what he and others could have done to prevent it. The senators were too softball except for Elizabeth Warren who said he should be fired based on the fact he was CFO during the time it was happening.

by | Post ID:

And - nothing of substance

by | Post ID:

Post a reply

:

Related pages


csc staffingapple store novilayoff com chesapeakeastek wall coveringsthe layoff chesapeake energyanthony maielloqualcomm ukexterran locationsweatherford partnership canadasears warwick ri hoursavon company messagetarget pharmacy minnetonka mnkelloggs cincinnativerizon wireless managercomputer associates layoffswww ecmc orgnorth carolina arrest.orgnewmont mining nvcognizant pune numberbose corporation jobsverizon wireless stores houston txbp rumorsfritos jobsdiagnocure stockcaterpillar lagrange ilcarousel industriescenturytel la crosse wihenderson hospital kyjourneys concord millsyahoo finance juniperprocera networks stocksolar city tickerruby tuesday hagerstown mdalcoa howmet hamptonkellogg's warehousemasco corporation layoffsvalassis belleville micreighton university medical center addressstaples state street boston355 grand st jersey city njbank of america jobs charlotte ncsiemens stock tickereog energycsc chennai phone numberwhere is pearson publishing companytarget corporation minneapolissjm careershargrove and associatescolgate palmolive morristown tnwalmart cutting jobsconocophillips aberdeen office addresschevron texaco stock pricesears troublepep boys employee loginabm industries new yorkla brea apple storeciscos.comwww americanchartered comneiman marcus sales associate salarypfizer mergerst joe bereabank of america salariesbank of america banker salarytwc officessyntel chennaiempower rfdean foods glassdooraudubon machinerystaples locations in michigangalleria mall fort lauderdale apple storecameron ville plattefreescale semiconductor india pvt ltd noidaapple inc cupertinoscholastic corporation jobscognizant technology solutions punechapparral energyhh gregg tallahasseechandler apple storeapple store in baton rouge