Wells Fargo is going backwards with thousands of job cuts as JP Morgan and other banks boom
September 21, 2018 at 06:59 AM EDT
The U.S. bank with the most employees has, until now, resisted deep job cuts, keeping headcount at about 265,000. That changed Thursday, when CEO Tim Sloan explained to his employees that up to 10 percent – as many as 26,500 – of positions would be eliminated.