TV News LIES

Monday, Jul 16th

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...


Trade war: Trump again threatens China with $200B in new tariffs

Trump threatens new tariffs on ChinaLast week, the United States formally imposed $34 billion in tariffs on Chinese products and Beijing...

Harley-Davidson to move some motorcycle production out of U.S. after EU tariffs

Harley Davidson to move some plants out of US Harley-Davidson plans to shift a portion of its U.S. motorcycle manufacturing capacity to foreign markets after...

Donald Trump raises stakes as US-China trade war begins

Donald Trump starts trade war with China Donald Trump has threatened to impose tariffs worth hundreds of billions of dollars on Chinese imports...

Allies line up to impose retaliatory trade tariffs on US

Allies retaliate tariffs Turkey and India announced on Thursday retaliatory tariffs worth hundreds of millions of dollars on goods...
 
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!