Gripped with fake-accounts scandal, Wells Fargo cuts 70 senior executive jobs

CALIFORNIA, U.S. – Amid a scandal over fake-accounts in its community bank, Wells Fargo & Co. has said that the division’s new leader is cutting about 70 senior executive jobs.

In a memo sent out to staff on Friday, Mary Mack, head of the retail bank reportedly said that the company will reduce the number of regional and area presidents to 91.

According to reports, the bank’s spokeswoman Bridget Braxton confirmed the contents of the memo and added that employees whose positions are eliminated will remain staff members for 60 days until further steps are decided.

The memo meanwhile highlighted that most of the remaining managers will be re-titled as region bank presidents with direct responsibility for more employees than before.

Read on.

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One response to “Gripped with fake-accounts scandal, Wells Fargo cuts 70 senior executive jobs

  1. hello Terrie and Gary

    I believe that your case once finished will blow wells fargo out of business since it affects so many that were foreclosed and those in the future under wells gunsights to steal their house.

    hope you had a great weekend. went to see DUNKIRK the movie. feeling better

    regards

    Dr.Dave

    ________________________________

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