Wells Fargo layoff machine to crank back up by the end of the year.
Other banks to follow? https://www.abc15.com/news/business/wells-fargo-signals-substantial-layoffs-ahead
KNXV
Look like it’s game on for bank layoffs.
Banks will lay off more. Not just because of Covid but I think the industry is generally going downhill due to fintech, etc.
Not true at all. Covid has put lot of pressure on fintechs and lot of them will be gobbled up by big banks in next 6-12 months
Not true at all. Paypal and square stocks soars while banks stocks crushed
What month?
Nah , we are looking good. Don't wish that nonsense on us. Lol, WF messed up with management of calendar invites
Lay offs will come. I would say there will be a fair amount of battening down the hatches this fall because the worst, economically, is 9-12 months off at least. The V shaped recovery is bullshit.
Yeah. Prep for a |____/ recovery
Unclear how to illustrate the gradual descent that will happen starting August when eviction prevention and additional unemployment benefits run out... but yes. The economy fell off and cliff and will continue to roll down the mountain
I wondered how long it would take
these things are not mutually exclusive. banks’ balance sheets are mostly strong. they are also continuing to trim the fat, to put it mildly.
Layoff machine goes brrrrrr
Once the “marketing gimmick” is over - they will fire people - reason they didn’t do it now is because they have been systemically laying off people for years.