REUTERS/Rick Wilking
- Wells Fargo & Co said on Thursday it notified about 1,000 employees in its Consumer Lending and Payments, Virtual Solutions and Innovations groups of plans to eliminate their positions.
- Most of those affected received 60-day notices, but some received pre-notices, meaning they will get a 60-day notice sometime next year.
- Over the summer, the bank laid off 600 employees in its mortgage division which has faced challenges due to a slowdown in refinancing demand.
(Reuters) – Wells Fargo & Co said on Thursday it notified about 1,000 employees in its Consumer Lending and Payments, Virtual Solutions and Innovations groups of plans to eliminate their positions.
The layoffs are consistent with the bank’s previously announced plans to reduce headcount by up to 10 percent by 2020, spokesman Tom Goyda said. Wells Fargo, the No. 4 US bank by assets, had about 262,000 employees as of Sept. 30.See the rest of the story at Business Insider
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