Wells Fargo Targeting Up to 25% of Workforce in Mass Layoffs
Alan Johnson, managing director of New York-based compensation consultant Johnson Associates Inc., said that Wells Fargo’s announced cost-cutting plan will hurt the firm from a recruitment perspective, including in asset management. “It’s not just the cost cutting, but years of instability at the bank,” since the 2016 sales scandal surfaced, he said. “It’s just one…