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Back to Press Play with Madeleine Brand

Press Play with Madeleine Brand

How sales quotas cost Wells Fargo

Quotas are an oft-used management tool. Retail clerks and meter maids alike work under quotas. But sometimes quotas work against companies. Like when employees at a bank open millions of accounts that customers didn't ask for and often didn't even know about. That's what happened at Wells Fargo.

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By Madeleine Brand • Sep 9, 2016 • 1 min read

Quotas are an oft-used management tool. Retail clerks and meter maids alike work under quotas. But sometimes quotas work against companies. Like when employees at a bank open millions of accounts that customers didn't ask for and often didn't even know about. That's what happened at Wells Fargo. Officials say that pressure to meet quotas drove sales associates to fudge the accounts. And that quota pressure will now cost the company $185 million in settlements.

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Madeleine Brand

    Host, 'Press Play'

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Matt Holzman

    Producer, 'The Document'

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Anna Scott

    Former KCRW Housing and Homelessness Reporter

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    Jolie Myers

    Managing Producer, 'Press Play'

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    Harold Solovitch

    University of Montreal

    News
Back to Press Play with Madeleine Brand