Yesterday we joined an official panel at the United Nations to discuss how can having a voice on the job make the finance industry a more sustainable and inclusive sector, including what are the roles of bank workers in regulating it. Thanks to the workers and allies who joined us! #BetterBanks.
So far as understanding is concern, this is not a Global issue. It is rather unique to our corporate laws. Once you are a corporate employee, you should be automatically a corporate citizen. However your citizenship is at will. That means you and the person we call corporation can end your citizenship at will. That has happen to me and many others after working for a bank for 13 years or more. Nations do not have corporate behaviors and are there to protect their citizens and negotiate for healthier, better and secure life. Corporate are profit maximizers and can end corporate citizenship at will if that is part of their profit maximization strategy. Observe and compare how Santander behaves in Spain toward its worker in comparison to her American workers. The same with TD Bank. Compare among others, maternity, vacation, pension, pay and health and you will see we do not have Global issue we have laws that corporations adhere to religiously here and like all other social contracts it is an accepted behavior.
JPMorgan Chase is laying off 102 people in Houston! Their tasks are being reassigned to employees in another part of the country. In a statement, JPMorgan Chase said it “always look for ways to operate more effectively and efficiently, driving down costs for our customers and clients.”
Will you be affected by these layoffs? Reach out to us! #BetterBanks
JPMorgan Chase & Co. laying off 102 people in Houston
chron.com
JPMorgan Chase & Co. is laying off 102 people in Houston as their tasks are reassigned to employees in another part of the country. The workers being let go have provided support to bank branches in the areas of workforce management as well as fraud and customer protection services, according to doc...First they started firing in the Houston site for miniscule things to avoid having to pay too many people unemployment benefits. The department they are laying off was just hiring in August
Ariana Davalos siguen ustedes
Nat Fischetti
Yesterday, Wells Fargo announced plans to cut 10 percent of its workforce over the next three years. This will result in as many as 26,500 jobs being eliminated at the nation's third-largest bank. The move is part of Wells Fargo's "ongoing transformation, which addresses industry trends and changes in customer behavior."
Have you heard about this? What are your thoughts? #BetterBanks
Wells Fargo layoffs coming: Bank promises to cut 10 percent over 3 years
The beleaguered bank announced it would cut up to 10 percent of its workforce over the next three years
Not surprising and hopefully that takes place in the community bank. There are far too many branches with a lot of employees who still value sales over people.
Jose Soto Lizzy M. Cano Christy Mendoza Mariah Reed
With the saved money they can keep paying these checks 😂
Not at all surprising
Gender discrimination has been an issue across a wide array of industries. A new study showed that while female financial advisers are less likely than their male counterparts to engage in misconduct, they are punished far more harshly after complaints of wrongdoing. Female financial planners at Wells Fargo were more than 25% more likely to experience a “job separation” after misconduct than males.
What are your thoughts? Have you experienced or seen gender bias at your bank? #BetterBanks
Wells Fargo 25% More Likely to Punish Women Employees than Men: Study
fortune.com
Study show pattern of gender discrimination at one of nation's largest banks.
Absolute fact.
Saw it all the time when I worked there
Very true.
Stop banking there, Wells Fargo is the WORST Bank.
With bank profits up 25% because of the corporate tax cut, the average Wall Street pay is now $422,500. Last quarter, bank profits reached a record $60.2 billion.
Are front line workers seeing any benefits from these record hight profits? Have your wages increased recently? What are your thoughts? #BetterBanks
Wall Street pay is the highest since the financial crisis
money.cnn.com
The average salary in New York City's securities industry was $422,500 in 2017.