Wells Fargo plans to cut 1,000 positions in U.S.: spokesperson

By Imani Moise

(Reuters) - Wells Fargo & Co. said on Thursday the bank given has given notice to team members in its Consumer Lending and Payments, Virtual Solutions and Innovations groups that it plans to eliminate roughly 1,000 positions nationwide.

About 900 of those cuts will be in the bank's home lending unit, to reflect declines in application volume and the number of the customers in default, spokesman Tom Goyda said in an email.

Earlier this year, the bank announced plans to reduce its headcount by about 26,000 over the next three years.

(Reporting by Imani Moise; Editing by Bernadette Baum)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.

Updated Date: Nov 16, 2018 01:05:32 IST

Tags : Reuters