Wells Fargo hasn’t been able to fix any of the many, many things that ail it. But it swears that it’s gotten to the bottom of that whole interviewing-women-and-people-of-color-for-job-vacancies-that-no-longer-exist thing. Not in time to avoid a federal civil rights investigation, but still: They did it! Now, instead of insisting that half of all candidates for any and all jobs paying at least $100,000 be “diverse,” now managers will only have to interview the requisite number of non-white-men for jobs at certain “levels,” and only if those managers haven’t managed to get a now much-easier-to-acquire exemption.
The bank acknowledged in the memo that its guidelines could be improved. One problem executives found, according to the memo: “Our guidelines and processes can be overly prescriptive.”
Well, it’ll certainly get no argument from us or from any of its regulators on that point. And gutting those guidelines and processes will definitely make them easier to follow. What’s more, Wells’ track record indicates even this seeming sop might pay dividends.
The biggest changes will be increased training for managers….
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