Business

Worker at Wells Fargo Sends Request for Raise Via Email

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email-logo1A worker at Wells Fargo decided to send an email to the CEO asking for a raise and wanted the entire company to know of his request.

The email to the CEO was copied to hundreds of thousands of his fellow co-workers. Now the request is known worldwide as well.

Tyrel Oates, the employee, asked John Stumpf the CEO at Wells Fargo to make a stance on today’s troubling income inequity by offering a $10,000 raise to all 300,000 employees.

Oates is of the opinion that the pay raise across the board would coast Wells Fargo approximately $3 billion, which he called only a small fraction of what the bank’s earning annually.

He pointed out in his email that the bank earned over $5.7 billion in just the second quarter of 2014.

Oates did not respond immediately to requests for a comment, but he did tell a local newspaper he was not worried about losing his job.

Oates said that by boosting the pay of workers Wells Fargo would help to make its employees, its family more productive, happy and stable financially.

Oates asked Stumpf to consider all the positive publicity the raise would give the bank during a time when there is extreme skepticism by consumers towards all banks.

Oates noted that Stumpf, who routinely is ranked as one of the highest paid CEOs in bank in the U.S., personally earned more than $19 million in 2013, which is more than the majority of employees will earn in their lifetime.

Oates’ email came with an income inequality subject line and was marked as high in importance.

The recipients list was 15 pages long.

It is estimated that over 200,000 employees received a copy of the email.

A spokesperson for Wells Fargo said the bank offers competitive compensation that significantly exceeded minimums set up by the federal government.

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