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August 19, 2022
Finance Technologies

Wells Fargo resumes job cuts after pandemic break

Wells Fargo resumed job cuts in early August after it paused layoffs in March because of the COVID-19 pandemic, according to Reuters. The lender said in July it would launch a broad cost-cutting initiative this year as the bank braces for massive loan losses caused by the pandemic. It is also continuing to work through expensive regulatory and operational problems tied to a long-running sales scandal. Layoffs, branch closures and cuts to third-party spending are on the table, says the bank’s executives. Layoffs, branch closures and cuts to third-party spending are on the table. “We expect to reduce the size…
Wells Fargo resumes job cuts after pandemic break

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