Free Republic

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.