* Wells Fargo CEO Charlie Scharf said low staff turnover means the company would likely book a big severance expense in the fourth quarter.
* “We have seen turnover come down and so because of that, we’re likely going to have some more severance than we otherwise would have anticipated,” Scharf said.
* More: [https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html](https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html)
“We.. we just didn’t expect them to be willing to travel 3 to 4 hours per day to the office. We even made the office as unpleasant as we could with plausible deniability. Layoffs might actually cost us some severance money after all.”
Wells Fargo? The bank who committed fraud how many times?
There’s that word again, “efficiency.” Really seems like they’re prioritizing profits rather than effectiveness of their employees to me.
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TLDR:
* Wells Fargo CEO Charlie Scharf said low staff turnover means the company would likely book a big severance expense in the fourth quarter.
* “We have seen turnover come down and so because of that, we’re likely going to have some more severance than we otherwise would have anticipated,” Scharf said.
* More: [https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html](https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html)
“We.. we just didn’t expect them to be willing to travel 3 to 4 hours per day to the office. We even made the office as unpleasant as we could with plausible deniability. Layoffs might actually cost us some severance money after all.”
Wells Fargo? The bank who committed fraud how many times?
There’s that word again, “efficiency.” Really seems like they’re prioritizing profits rather than effectiveness of their employees to me.