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Wells Fargo plans to lay off 525 employees in Richland County by mid-2024
Wells Fargo plans to lay off 525 employees in Richland County by mid-2024 By Investing.com
Breaking News
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EditorRachael RajanStock Markets
Published Oct 02, 2023 04:13PM ET
(C) Reuters.
Monday’s report from SC Works, a South Carolina employer program, revealed that Wells Fargo is planning to lay off over 500 employees in Richland County by June 30, 2024. The bank confirmed on Friday that the layoffs had already begun.
The report highlighted that Wells Fargo, located at 101 Greystone Blvd, has the highest number of planned layoffs among all companies statewide listed in the document. The total number of layoffs expected by the banking giant is 525.
A spokesperson for Wells Fargo explained to WIS News 10 that the layoffs are part of a consolidation process targeting their behind-the-scenes employees. The representative assured that bank tellers and customer service representatives at their financial institutions would not be affected by this decision.
This news follows the recent trend in the banking industry where many institutions are streamlining their operations and reducing workforce sizes as they adapt to changing market dynamics and technology advancements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Wells Fargo plans to lay off 525 employees in Richland County by mid-2024
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