Info request - what's the total headcount at the co? How many people are employed at San Francisco?
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We should have numbers from 12/31/2019 very soon - I think we'll file 2019 10K sometimes in February 2020...
The number from the previous annual report is below:
- At December 31, 2018, we had 258,700 active, full-time equivalent team members.
WELLS FARGO & COMPANY
Form 10-K - Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended December 31, 2018
Commission File Number: 001 2979
URL - https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/sec-filings/2018/10k.pdf
Source:
Page 1
- PART I.
- ITEM 1.
- BUSINESS
Those stats are not current.
Here’s stats by FTE’s only
Number of employees
Wells Fargo Bank 230,338
JPMorgan Chase Bank 194,680
Citibank 163,581
Bank of America 136,502
- S. Bank 72,144
PNC Bank 52,319
The Bank of New York Mellon 40,742
Branch Banking and Trust Company 33,401
State Street Bank and Trust Company 33,004
Capital One 27,679
TD Bank 26,305
Capital One Bank (USA) 23,764
SunTrust Bank 21,405
Regions Bank 19,906
The Northern Trust Company 18,436
KeyBank 17,737
Fifth Third Bank 17,420
Manufacturers and Traders Trust Company 16,341
Citizens Bank 15,343
The Huntington National Bank 14,802
That 200,000 number may sound callous, but this is exactly what BoA did. We will see a 33% ish reduction in headcount.
The offshore work being done by non-Wells Fargo employees was increasing when I left last year. That's one way to get the official headcount down. There was also a push to automate accounting through the use of robotics/artificial intellegence.
271k. Just pull up the CEO on Teamworks and a list how people report to him
"We need to get it under 200,000."
This person claims to be in finance and I believe them, because that is the casually callous way they talk about other people.
"We need to destroy another 78,000 lives so we can shovel more money at people who don't need any more money".
Not because we're losing money, but because other banks are making more money than us.
~261,000 - 278,000 depending on how you or CEO want to measure it (I'm in Finance at Wells Fargo).
We need to get it under 200,000.
Our competitors' operating expense ratios are infinitely better – they have under 200,000 employees and are much more profitable.