World Economy

Wells Fargo Cuts 69 Executive Jobs

Wells Fargo Cuts 69 Executive JobsWells Fargo Cuts 69 Executive Jobs

Wells Fargo & Co said it is cutting 69 executive jobs at its retail unit, as part of a restructuring in the division, Reuters reported. Some of the executives positions will retire with full benefits while others may find positions elsewhere within the bank, said Wells Fargo spokesman Paul Gomez. Some of the executives may leave the bank, Gomez added. “We have just completed the process of consolidating the regional president and area president roles into a new position, region president,” Mary Mack, senior executive vice president for community banking, said in an internal memo seen by Reuters.


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