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.
By Madeleine Brand • • 1 min readQuotas 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.
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The full episode
2 of 5House votes to allow families of 9/11 victims to sue Saudi Arabia- 0:33Suing foreign governments after terrorist attacks
- 11:00How sales quotas cost Wells FargoYou’re reading this
- 20:33Sports: Vin Scully, Landon Donovan and The Rams
- 33:19The latest from the Toronto International Film Festival
- 44:05How to avoid fish fraud