Discussion: At Wells Fargo, Workers Say, Sales Focus Was All-Consuming

“…not for any bonuses, but simply to keep their jobs.”

Hey Ken, I recall hearing somewhere that those jobs only paid $11-$12 per hour. Can someone confirm?

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$12 was mentioned during the hearing, don’t remember by whom.

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Warren said that.

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Stumpf apologized to the Senate Banking Committee, as well as the American public. “We recognize now that we should have done more sooner,” he acknowledged.

it’s funny how many ways there are to say we’re ‘truly sorry we got caught’…

maybe they could consult on damage control with the ex-VW executives…

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I read in one of the articles I think that the fired employees made around 35K-60K yearly. That’s approximately $16-30/hour on a 40-hour week.

This is laughable:

“We regret and take full responsibility for the incidents in which customers received a product they did not request, as that is inconsistent with the values and culture we strive to live up to every day,” Stumpf said in the email.

I want a job where I can fuck over my customers and then get paid $125M to leave and call it “taking responsibility”.

/no I don’t want that job, but I do want the $125M

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“The bank has said it will be ending its sales quota system at the end of the year. It also plans to reach out to all customers going back to 2009 to verify whether the accounts were authorized.” Why not stop it NOW!!!
Giving them til the end of year means that they are cooking up something new to replace their “sales quotas” with the same thing but different name.

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Assuming that that $12/hr is accurate and 40hr weeks for 52 weeks a year that would mean that the total yearly pay of all 5,300 employees fired is about $132million or only about 7million more than the executive overseeing all this’ 125million golden parachute. Or to phrase it another way the executives severance package is the equivalent of ~95% of 5,300 of her employees yearly pay.

Which means if you are going to steal be sure you’re an executive with a nice parachute.

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