Wells Fargo could cut thousands of jobs

Business

Wells Fargo is preparing to cut thousands of jobs

(FOX NEWS) — Wells Fargo is preparing to cut thousands of jobs later this year in an effort to reduce costs during the coronavirus pandemic.

This, according to a report from Bloomberg Law.

The plans being drawn up by wells executives could eventually lead to tens of thousands of jobs being cut according to Bloomberg, citing people with knowledge of the confidential talks.

Wells Fargo declined to comment to Fox Business on the report.

Wells Fargo is one of the largest US banks.

It employs about 260,000 people.

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