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Wells Fargo expects more job cuts and higher severance costs in this quarter that ends in three weeks, bank CEO and President Charlie Scharf said Tuesday at an investors conference in New York. He’s also betting on AI to drive efficiency and, eventually, further workforce reduction.From a report: “As we’ve gone through the budgeting process, and even pre AI, we do expect to have less people as we go into next year,” Scharf said at the Goldman Sachs Financial Services…
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Wells Fargo expects more job cuts and higher severance costs in this quarter that ends in three weeks, bank CEO and President Charlie Scharf said Tuesday at an investors conference in New York. He’s also betting on AI to drive efficiency and, eventually, further workforce reduction.From a report: “As we’ve gone through the budgeting process, and even pre AI, we do expect to have less people as we go into next year,” Scharf said at the Goldman Sachs Financial Services…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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