Staring late last year, Wholesale Banking will be laying off tons of people. Layoff waves started last October with the bulk of the layoffs coming in Jan-Jun 2019. Customer and non-customer facing positions will be eliminated as management guts Wholesale Banking.
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They are not hitting, they are moving things around. To PVSI and to corporate. It is a chess game. They aren’t going to get rid of all those businesses that are under wholesale. There are hundreds!
Yes, they had the share is scandals including insurance fraud within WF Insurance Services. Now its time to layoff in Consumer Lending and Payments.