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Report: Wells Fargo layoffs could be in tens of thousands

Layoffs at Wells Fargo & Co. (NYSE: WFC) could be in the tens of thousands, according to a Bloomberg Law report, citing people familiar with the matter.

Job cuts will start this year, as Wells Fargo executives are under increasing pressure to cut costs. The San Francisco-based bank employs about 263,000 people, including 27,500 in the Charlotte region, its largest employment hub. It’s grown its Charlotte footprint by several thousand employees in the past decade. Source Charlotte Business Journal

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