Senior executives at Wells Fargo are expecting even more layoffs to impact the company soon.
The banking giant has slashed 40,000 jobs since 2020 and things are only expected to get worse as the fallout from the commercial real estate sector continues to affect banks and lenders.
Additionally, a banking crisis affecting the broader industry is placing additional pressure on Wells Fargo.
Trending: 37-Year-Old Pilot Reportedly Passes Away On a Layover
Don Johnson explained: “Wells Fargo CFO confirms more layoffs ahead – so total headcount has been reduced by ~40,000 in last 2 years.”
Wells Fargo CFO confirms more layoffs ahead – so total headcount has been reduced by ~40,000 in last 2 years
— Don Johnson (@DonMiami3) September 12, 2023
Users provided data on local bank branch closures, as well
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!