TV News LIES

Thursday, Apr 27th

Last update05:20:13 AM GMT

You are here News Economy Wells Fargo May Send Some Jobs to India, Philippines

Wells Fargo May Send Some Jobs to India, Philippines

E-mail Print PDF

Wells FargoWells Fargo & Co.the lender looking to trim more than $1.7 billion in quarterly expenses by the end of this year, may move some jobs overseas.

Roles in technology, the retirement division and other business lines could shift to India and the Philippines as part of a companywide review, Bridget Braxton, a spokeswoman for the San Francisco-based bank, said yesterday. News 14 Carolina reported a review for the retirement business earlier, citing an internal memo from a Wells Fargo executive it didn’t name.

Wells Fargo announced plans in 2011 to cut expenses by $1.5 billion a quarter to about $11 billion at the end of 2012. Costs rose in the first three months of the year to $13 billion, and Chief Executive Officer John Stumpf said expenses may hit the high end of the range, or $11.3 billion.

“We are absolutely committed, but if we get to the fourth quarter and if, for whatever reason, there is all kinds of revenue available in a certain business -- or a number of businesses -- we’re not going to be slavish to any one number,” Stumpf said April 13 in response to an analyst’s question.

More...


Most Recent Related Stories...


Trump's first tariffs: Canada's lumber imports

US puts tariffs on Canadian lumberPresident Donald Trump imposed the first tariffs of his administration, up to 24.1 percent aimed at...

US gained only 98,000 jobs in March, putting a chill on Trump's promises

Jobs report very disappointing in MarchThe US economy added just 98,000 jobs in March as a cold snap, a government hiring...

Data Dive: U.S. confidence in economy at lowest point since November: Gallup

US confidence in economy tumblesConfidence in the U.S. economy is at its lowest point in five months, Gallup reports.The polling...

Trump touts Charter hiring that was in works for two years

Charter hiring goes back two yearsU.S. President Donald Trump on Friday touted Charter Communications Inc's decision to invest $25 billion in...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!