Wells Fargo needs to "ramp up" for collections, credit card default, short sales, foreclosures and bankruptcies due to Covid 19 unemployment. What else can you think of for Wells Fargo business units impacted by the Covid 19 unemployment, lay offs, firing, small business bankruptcies, personal bankruptcies, people dying and leaving their bills unpaid, etc.? Mortgage payment forbearance will end and the customers will then be liable to pay their past due bills, but they may not be able to do so. More jobs at Wells Fargo will be needed now for default processing. Sad but true.
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Contractors and outsourced employees will NOT have the required experience.
They can hire contractors (contingent workforce) or outsource.
No FTEs – need to reduce staff and increase operating efficiency ratio.