Wells Fargo layoff trickle has employees on edge, warns Minneapolis Star Tribune

From Minneapolis Star Tribune:

Day by day, new memos arrive “announcing changes.” The changes sometimes reorganize a team. Some announce that certain employees will be “seeking new opportunities.”

Across the behemoth workforce of Wells Fargo, CEO Charlie Scharf’s drive to cut $10 billion in expenses at the bank often criticized for its bloat and inefficiency has set off anxiety and panic among its workforce. Many at the bank feel they are in the dark about what’s going on.

How many people will be laid off? They don’t know, and the bank won’t say. There is no firm timetable for the layoffs, but the bank said $3.7 billion in cuts will come in 2021.

Are you in jeopardy if you work in San Francisco? Minnesota? Charlotte? Hard to tell.

Continue reading Wells Fargo layoff trickle has employees on edge on Minneapolis Star Tribune

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