How is it that Chuck was so against telecommuting for BNYM staff, but he's doing exactly that by managing Wells Fargo (a San Francisco based company) from New York.
Yet another example that shows the type of CEO and man Scharf is. Only concerned about lining his own pockets off the backs of hard working employees. Despicable….
Good luck to the WF employees.. You'll need it.
People abused WFH. There were many goldbricks in the office, taking innumerable smoke/coffee breaks. Would they then be industrious at home? Not a chance.
The whole cancelling of work from home had nothing to do with Charlie's work philosophy. It was a calculated ploy to get people to leave on their own so the company didn't have to pay severance and unemployment.
There is no way they didn't anticipate the blow back from the employees. They knew what they were doing the entire time. It worked, I know of many employees who left the bank because of it. I was going to put in my two week notice after my vacation in March had it not been restored.
Wells Fargo is based in San Francisco in branding/name only.
Wealth Management and Technology are already run out of NYC. Consumer Bank is run out of Charlotte and Wholesale is run out of Portland. Maybe a few support execs are in SF, but the major business units aren't there so HQ is just on paper.