Wells Fargo layoffs to hit ‘most geographies’ and nearly all business lines

Wells Fargo & Co. is rolling out big job cuts — cuts that will span business lines and geographic areas.

Recently, Wells Fargo shaved more than 700 jobs in commercial banking, according to a Bloomberg report, citing people with knowledge of the matter. Those layoffs affected employees across the division, the report said.

The bank is one of Charlotte’s largest employers, with more than 27,000 workers based in the region.

CBJ reached out to Wells Fargo as well as analysts to see how the layoffs are likely to play out and how Charlotte might be affected. Read the full story here.

Wells Fargo signals substantial layoffs ahead Wells Fargo signals substantial layoffs ahead

Cox Media Group