Wells Fargo CFO expects more layoffs ahead

By Nupur Anand

NEW YORK (Reuters) – Wells Fargo could see its headcount decline further as it aims to improve efficiency, Chief Financial Officer Mike Santomassimo said on Tuesday.

The bank has been trimming its workforce since the third quarter of 2020. It has already reduced its employee base by nearly 40,000 and cuts are likely to continue, Santomassimo said.

“I do think that there’s more to do, and you’ll see that through the headcount number,” he added.

Wells Fargo had 233,834 employees at…

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