(Bloomberg) — Wells Fargo & Co. cut more than 700 commercial-banking jobs as it embarks on workforce reductions that could ultimately number in the tens of thousands, according to people with knowledge of the matter.The terminations affected positions across the division, the people said, asking not to be identified discussing details of internal decisions. The unit offers a variety of services to businesses that typically have more than $5 million in annual sales. Katie Ellis, a company spokeswoman, confirmed that at least some reductions have occurred.“We are at the beginning of a multiyear effort to build a stronger, more efficient …read more
Source:: Yahoo Finance
