Wells Fargo employee to CEO: I need a raise

[Mr. Big Dog 10,747]

The man has balls...

http://www.marketwatch.com/story/wells-fargo-employee-to-ceo-i-need-a-raise-2014-10-08?dist=beforebell

(I left his name off) Mr. Stumpf,

With the increasing focus on income inequality in the United States. Wells Fargo has an opportunity to be at the forefront of helping to reduce this by setting the bar, leading by example, and showing the other large corporations that it is very possible to maintain a profitable company that not only looks out for its consumers and shareholders, but its employees as well.

This year Wells Fargo in its second quarter alone had a net income of $5.7 billion, and total revenue of $21.1 billion. These are very impressive numbers, and is obvious evidence that Wells Fargo is one of, if not the most profitable company in the nation right now. So, why not take some of this and distribute it to the rest of the employees.

Sure, the company provides while not great, some pretty good benefits, as well as discretionary profit sharing for those who partake in our 401k program. While the benefits are nice, the profit sharing through the 401k only goes to make the company itself and its shareholders more profitable, and not really boost the income of the thousands of us here every day making this company the prestigious power house that it is.

Last year, you had pulled in over $19 million, more than most of the employees will see in our lifetimes. It is understood that your position carries a lot of weight and responsibility; however, with a base salary of $2.8 million and bonuses equating to $4 million, is alone one of the main arguments of income inequality. Where the vast majority, the undeniable profit drivers, with the exception of upper management positions barely make enough to live comfortably on their own, the distribution of income in this company is no better than that of the other big players in the corporate world.

My estimate is that Wells Fargo has roughly around 300,000 employees. My proposal is take $3 billion dollars, just a small fraction of what Wells Fargo pulls in annually, and raise every employees annual salary by $10,000 dollars. This equates to an hourly raise about $4.71 per hour. Think, as well, of the positive publicity in a time of extreme consumer skepticism towards banks. By doing this, Wells Fargo will not only help to make its people, its family, more happy, productive, and financially stable, it will also show the rest of the United States, if not the world that, yes big corporations can have a heart other than philanthropic endeavors.

P.S. – To all of my fellow team members who receive a copy of this email. Though Wells Fargo does not allow the formation of unions, this does not mean we cannot stand united. Each and every one of us plays an integral part in the success of this company. It is time that we ask, no, it is time that we demand to be rightfully compensated for the hard work that we accomplish, and for the great part we all have played in the success of this company. There are many of us out there who come to work every day and give it our all, yet, we struggle to make ends meet while our peers in upper management and company executives reap the majority of the rewards. One of our lowest scored TMCS questions is that our opinions matter. Well they do! This email has been sent to hundreds of thousands Wells Fargo employees, (as many as I could cc from the outlook global address book). And while the voice of one person in a world as large as ours may seem only like a whisper, the combined voices of each and all of us can move mountains!

With the warmest of regards,

[We Keep Receipts 9,238]

I hope he gets it. Or not be fired....

[Teddy B 17,251]

I hope he gets it. Or not be fired....

Yeah, it's a great idea, but has a big chance of backfiring.

Not much ticks me off more than corporate greed.

[Mr. Big Dog 10,747]

Yeah, it's a great idea, but has a big chance of backfiring.

Not much ticks me off more than corporate greed.

That's the funny thing. I'd say better than 90% of corporate staff feels that way and yet it continues on unabated.

[We Keep Receipts 9,238]

Yeah, it's a great idea, but has a big chance of backfiring.

Not much ticks me off more than corporate greed.

I hope this doesn't happen to him:

[Sousuke 1,214]

If his letter has been published I doubt WF will fire him........right now. It would be bad PR. They'll put something in his file for later. I doubt he'll make it through 2015, though maybe he doesn't care, maybe he has another plan.

[Sousuke 1,214]

Also, since when can a company stop a union? There was a lawsuit over signing pledges to not join a union in 2011....the company lost.

[Operator 1,925]

I dislike it when the peonage ask for more money. Don't like your compensation package???? Go start your own bank.

[The Nature Boy 4,224]

Yeah, it's a great idea, but has a big chance of backfiring.

Not much ticks me off more than corporate greed.

They suck as a bank. I don't know how the get so many customers. Everytime I went in there they tried to sell me something. One time the lady just would not stop. After the 4th time, I said--"Lady I DO NOT WANT A CREDIT CARD" She replied by--Sir would you mind explaining to me why not. I almost blacked out it pissed me of so bad. I shut my account and moved a sizable investment.

[Karee 4,189]

I dislike it when the peonage ask for more money. Don't like your compensation package???? Go start your own bank.

Or find another job.

[GBCW 397]

I dislike it when the peonage ask for more money. Don't like your compensation package???? Go start your own bank.

Asking for more money, like asking for more challenging work or asking for a promotion, is exactly what it takes sometimes to get more money or more work or a better title.

Or so they tell me. It's never worked for me.

[GandD 5,966]

Asking for more money, like asking for more challenging work or asking for a promotion, is exactly what it takes sometimes to get more money or more work or a better title.

Or so they tell me. It's never worked for me.

Or threaten to leave.

[GBCW 397]

If someone cuts you a good deal because you put their back against the wall, watch out for what happens after they get comfortable again. The knives come out when you least expect it.

[Teddy B 17,251]

They suck as a bank. I don't know how the get so many customers. Everytime I went in there they tried to sell me something. One time the lady just would not stop. After the 4th time, I said--"Lady I DO NOT WANT A CREDIT CARD" She replied by--Sir would you mind explaining to me why not. I almost blacked out it pissed me of so bad. I shut my account and moved a sizable investment.

I've never had a personal relationship with Wells Fargo employees as we don't have any branches up here, but I do hate the "hard sell" tactics no matter who is using them. I don't blame you for closing your account, i'd probably do the same thing. I have used Wells Fargo for a mortgage and a couple small loans with no negative interaction.