Have you ever wanted to loudly tell your boss that you and your fellow workers are grossly underpaid, and deserve to be compensated in a manner that is proportionate to the massive profits you and your coworkers produce — and do it in front of the entire company?
Well, that’s exactly what 30-year-old Tyrel Oates, a seven-year employee of the company who processes requests from customers who wish to stop debt collection calls, did. Oates e-mailed company CEO John Stumpf a plea for a raise, and CC’d 200,000 of the company’s roughly 260,000 employees. Oates proposed that the company give all of its employees a $10,000 raise.
“Just knowing the unease of my fellow team members as far as pay goes and how horrible our pay increases have been over the seven years … I just decided to send a letter to John Stumpf,” Oates, who has received a paltry $2 in raises in his seven years at the company, said.
“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,” a letter that appears to be the one Oates wrote said, “So, why not take some of this and distribute it to the rest of the employees?”
Oates concedes that employees receive decent benefits though the company, but he points to Stumpf’s personal income as an example why employees deserve more money.
“Last year, you had pulled in over $19 million, more than most of the employees will see in our lifetimes,” he told his boss. “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.”
Oates suggested that the company take a small portion of company profits — three billion dollars — and increase employees’ salaries by $10,000, or roughly $4.71 per hour. “By doing this, he wrote, “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.”
Oates, the man with stone testicles, had a message for coworkers, as well:
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!
The Washington Post reports that a Wells Fargo spokeswoman said that the company does not discuss personnel matters, but that it provides “market competitive compensation that combines base pay with a broad array of benefits and career-development opportunities.” She touted the company’s annual performance and salary review, and said compensation exceeds federal and state minimums.
Asked whether or not he was afraid of losing his job he replied, “I’m not worried about losing my job over this.”