Wells Fargo (WFC.N) has let go of less than 50 bankers from its corporate and investment banking unit as part of year-end pruning, a source familiar with the matter said on Tuesday.
https://www.reuters.com/business/wells-fargo-cut-less-than-50-investment-banker-jobs-source-2023-11-14/
Wells Fargo markets business should be shut down … it is a disaster waiting to happen.
What do they mean by "less than 50"? It could be 10 or 5?
Wow this post is true. I work in CIB we did lay off a bunch of investment bankers on Tuesday.
Likely people who don't produce.... that's the way it works
I guess we are all part of the tva
Shouldn't it be fewer, not less?
Gee, I thought only HL was in the downturn. I guess in HL they get laid off while in investment banking you get "pruned". At least they are not offshoring investment banking yet ... or are they?
Year-end pruning. Unbelievable!
So some guy or gal goes home and tells the spouse and kids, I was just pruned by Wells Fargo today.
Have they no shame?
Here goes another post https://m.investing.com/news/stock-market-news/wells-fargo-initiates-layoffs-amid-dealmaking-downturn-93CH-3234156