Wells Fargo Increasing Minimum Wage and Giving $400 Million to Charity in 2018

[Finn_Jarber]

Wells Fargo Increasing Minimum Wage and Giving $400 Million to Charity in 2018

That is good, but minimal raises, bonuses and charity is routine for companies like Wells Fargo. Few years ago they bragged about $1 billion they had given to charity over the past few years. If they want to kiss up to the government and make public statement making it sound like they are doing this because of the bill, then they can do that. It won't cost them anything. I am little surprised they had employees making less than $15 an hour.

[Goodnight]

Originally Posted by earthlyfather

Well, you are correct that I opposed minimum wage being forced on companies. Businesses have business models, that include profit targets, eps etc. The businesses have every right to set those targets and work toward them. With more money thanks to the Tax Cuts and Jobs Act 2017 passing and about to be signed into law by President Trump, the people and businesses now get to decide what to do with more of their money.

Well you have to excuse me for having no faith in Wells Fargo's Business Model. It appears that when it comes to executive compsenation it's more like "heads we win,tails we win". Two failed CEO's that cost that cost the company at least $185M and they still get bonuses in the millions, what a great company.


Anyway I'm glad that the company is coming around to giving their employees cpmpensation, if they can afford these regulatory fines what's a few dollars in wages.

show chapters Wells Fargo CEO receives pay raise in 2016 10:05 AM ET Thu, 16 March 2017 | 01:29


Wells Fargo's board of directors awarded Chief Executive Timothy Sloan $12.8 million for his work last year, a 17 percent increase, despite scrapping executive bonuses in light of an accounts scandal that rocked the bank last year, according to a proxy filing on Wednesday.
Sloan was CEO for only a few months in 2016. He took over after his predecessor, John Stumpf, resigned in light of revelations that thousands of Wells Fargo employees had opened perhaps millions of unauthorized customer accounts.
Sloan, 56, had been president and chief operating officer until October. Though his promotion came with a higher base salary and more long-term stock awards, his total package was less than the $19.3 million Stumpf received for 2015.


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https://www.cnbc.com/2017/03/16/well...s-scandal.html