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Wells Fargo preparing to cut
thousands of jobs: Report

Original Article

Posted By: Ribicon, 7/9/2020 1:20:10 PM

Wells Fargo is preparing to cut thousands of jobs later this year in an effort to reduce costs, according to a report from Bloomberg Law. The plans being drawn up by Wells Fargo executives could eventually lead to tens of thousands of jobs being cut, according to Bloomberg, citing people with knowledge of the confidential talks. Wells Fargo declined to comment on the report. Wells Fargo Chief Financial Officer John Shrewsberry had alluded to cuts in June. "There will come a time, and I assume at some point this year, when we get back to executing on programs that are in place and some

Comments:

The article just below says the company is handing over $400 million to non-WHITE businesses. This should be a great comfort to those soon to be unemployed.

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Reply 1 - Posted by: curious1 7/9/2020 1:37:31 PM (No. 472486)
I wonder what the stockholders have to say to the board?
13 people like this.

Reply 2 - Posted by: seamusm 7/9/2020 1:47:05 PM (No. 472502)
And how big was that fraud penalty? I am only surprised it took this long.
5 people like this.

Reply 3 - Posted by: StormCnter 7/9/2020 2:51:49 PM (No. 472539)
If Wells Fargo shut its doors tonight, I would not shed a single tear. Over my long life, I have dealt with many banks, large and small, international and local, but none has been as difficult and dishonest as WF.
8 people like this.

Reply 4 - Posted by: Safari Man 7/9/2020 2:57:27 PM (No. 472544)
Of course, the promised BLM that no people of color would be laid off.
4 people like this.

Reply 5 - Posted by: padiva 7/9/2020 3:02:20 PM (No. 472548)
Life is easier when you deal with a local financial institution.
4 people like this.

Reply 6 - Posted by: bad-hair 7/9/2020 5:03:44 PM (No. 472658)
2 articles back says they are "Donating 400 million to "minority" jobs. So where'd the money come from ??? The laid off minorities who already HAD jobs ? WFELM Wells Fargo Executive Lives Matter
3 people like this.

Reply 7 - Posted by: ROLFNader 7/10/2020 10:41:25 AM (No. 473395)
I , for one, am really going to miss their stage coaches....
0 people like this.

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