Posted on 10/27/2020 7:08:32 AM PDT by Rebelbase
CHARLOTTE, N.C. (FOX 46 CHARLOTTE)- Charlotte could be facing a big blow to the banking industry. Wells Fargo is expected to announce major layoffs across the board on Tuesday.
Thousands across the entire company could get the pink slip and bank insiders tell WJZY that many of those cuts will happen in the Queen City.
More than 27,000 people in the Charlotte area work for Wells Fargo. It’s the city’s second largest employer.
In July, the bank’s chief executive said it may need to cut expenses by more than $10 billion as it restructures away from a retail bank.
(Excerpt) Read more at myfox8.com ...
Timed to affect the election in NC, eh?
In Reno most bank branches are completely closed, leaving only ATM access to banking services. Not surprised to see tens of thousands of people laid off.
Yep. Do d@mned obvious.
Electioneering.
Wells Fargo....Which, according to Clark Howard, is a criminal enterprise operating as a bank
>>The time of a full service, walk-in bank is over.<<
That was over 10 years ago, no one bothered to tell the walking corpse.
Once the cuts are made, FOX 46 is told Wells Fargo will hold a town hall Wednesday to help rally the troops.
Digital currency will obviate the need for tellers, vaults and many of banks’ personal services, which can be done over the net.
/sarcasm on/Yeah that is the ticket./sarcasm off/
as it restructures away from a retail bank.
Wells Fargo dug itself into a massive hole by incompetence and corruption. People don’t forget that.
If they opened the lobby of their local branches it might help them, and me.
Doing business through the drive-thru is a PIA.
I have gone into a bank or credit union a whole three times this year.
Wells Fargo bank IS A CRIMINAL enterprise. The entire company should be shut down.
The Left won’t miss this opportunity to blame Trump, that’s for sure. Never mind the fake account shenanigans.
Peach
No wonder we can’t reach our banker.
Once the cuts are made, FOX 46 is told Wells Fargo will hold a town hall Wednesday to help rally the troops.
Huh?
>>>>So they can say, “ It’s not you, it’s us. We suck and we’re sorry to have to let you go, you’re like family to us” .....like family you use and then discard.
Yeah, bye now.
Election manipulation by WF.
The death of retail banking is grossly exaggerated and repeated.
The Banks would LOVE to eliminate people and their overhead. But systems don’t MAKE money, good people do.
Truth be told, WFC has been one of the BEST run big banks, along with USB. The real crooks were/are JPM, C, BAC. The leadership of WFC showed outward signs of being “politically conservative”, therefore they got investigated and fined for a variety of “abuses”. One such was opening excessive retail accounts, a practice that was done by EVERYONE at the time.
Check out the stock charts of all the banks I mentioned and you’ll see that the two I mentioned by far have performed the best since 2007, and the reason why they recovered, instead of being still down 90% like C, was that they actually ran a pretty good bank.
It’s been 11 years since banking/financials blew up. It was 13 years to recover the Tech wreck from dotcom/y2k.
I’d have to think that banking environment looks attractive for the next several years as interest rates are low and economic activity will soon be booming post covid.
WFC right now may perhaps be signaling to Trump, we need some support NOW. We all know who’s in the way. Pelosi.
Our bank in MA hasn’t allowed walk in traffic for months. TD Bank paid a lot for the real estate and building in my town. It is a very lucrative branch.
It could now be run out of a container box on cinder blocks. The ATM and call center is where it is happening now.
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