Wells Fargo layoffs: US banking firm CEO says AI rollout next year; 'We'll likely have...'
Wells Fargo CEO Charlie Scharf announced plans for workforce reductions next year, anticipating higher severance costs this quarter. He highlighted that even without AI, employee numbers are expected to decrease. The bank will gradually implement AI, which is projected to boost efficiency and lead to some job cuts, a move Scharf termed a 'positive reality'.
Wells Fargo CEO Charlie Scharf announced plans for workforce reductions next year, anticipating higher severance costs this quarter. He highlighted that even without AI, employee numbers are expected to decrease. The bank will gradually implement AI, which is projected to boost efficiency and lead to some job cuts, a move Scharf termed a 'positive reality'.
