Wells Fargo preparing to cut thousands of jobs: Bloomberg Law

(Reuters) – Wells Fargo & Co is preparing to cut thousands of jobs starting later this year, Bloomberg Law reported https://news.bloomberglaw.com/banking-law/wells-fargo-is-readying-thousands-of-job-cuts-to-start-this-year on Thursday, citing people familiar with the matter.

A spokesman for Wells Fargo declined to comment.

The company’s plans will eventually result in eliminating tens of thousands of positions, the report said.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)