Wells Fargo is going backward with thousands of job cuts as JP Morgan and other banks boom [CNBC]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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jpmorganchase.com/corporate/investor-relations/investor-relations.htm
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Source: CNBC
Susan Walsh | AP Wells Fargo Chief Executive Officer and President Timothy Sloan testifies before the Senate Committee on Banking, Housing and Urban Affairs on Capitol Hill in Washington, Tuesday, Oct. 3, 2017, during a hearing on Wells Fargo after one year. Wells Fargo Chief Executive Officer Tim Sloan is cutting jobs with the hope that he can save his own. Ever since taking over as CEO almost two years ago, Sloan has given top priority to move the bank past the fake-accounts scandal that garnered national headlines in 2016. Under Sloan, the bank has overhauled managers and its board, launched apologetic ad campaigns and revamped sales practices. But the U.S. bank with the most employees has, until now, resisted deep job cuts, keeping its headcount at about 265,000. That changed Thursday, when Sloan informed employees that up to 10 percent of positions — as many as 26,500 — would be eliminated over the next three years. In a town ha
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