9 Jul
by Vitaliy Dadalyan
The company’s plans will eventually result in eliminating tens of thousands of positions due to pressure to “dramatically reduce costs”, the report said. Wells Fargo, the fourth-largest U.S. lender by assets, is leaning on cost cuts to stabilize its bottom line as it recovers from a raft of fines and costs relating to sales abuses first uncovered in 2016 and mounting loan loss provisions due to the coronavirus-driven economic downturn.
