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Wells Fargo plans to cut up to 26,500 jobs over three years

Wells Fargo plans to cut up to 26,500 jobs over three years

CEO Tim Sloan said on Thursday that Wells Fargo (WFC) plans to cut 5% to 10% of its 265,000-person workforce. He cited "changing customer preferences," including the wide adoption of digital banking.

Wells Fargo said that the reduction in its workforce would reflect layoffs as well as attrition.

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