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Wells Fargo’s cost cutting spurs hundreds of layoffs

Summary by The Business Journals
Wells Fargo CEO Charlie Scharf said the bank has avoided a mass layoff by cutting staff when it finds opportunities to boost efficiency. The San Francisco-based bank is the third-largest in Dallas-Fort Worth and has a new regional headquarters in Las Colinas slated to employ 3,000 initially. Wells Fargo grew from 5,800 employees in DFW to 6,800 between 2020 and April 2023.

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Wells Fargo’s cost cutting spurs hundreds of layoffs

Wells Fargo CEO Charlie Scharf said the bank has avoided a mass layoff by cutting staff when it finds opportunities to boost efficiency. The San Francisco-based bank is the third-largest in Dallas-Fort Worth and has a new regional headquarters in Las Colinas slated to employ 3,000 initially. Wells Fargo grew from 5,800 employees in DFW to 6,800 between 2020 and April 2023.

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The Business Journals broke the news in United States on Tuesday, August 27, 2024.
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Layoffs

Layoffs

Dallas, Texas

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