Wells Fargo expects more job cuts, will roll out AI gradually in 2026
By Pritam Biswas and Lananh Nguyen Dec 9 (Reuters) - Wells Fargo expects more cuts to its workforce and sees higher severance expenses in the current fourth quarter, CEO Charlie Scharf said on Tuesday, adding that artificial intelligence was set to change the way its business works. "We have gone through the budgeting process, and even pre-artificial intelligence, we do expect to have less people as we go into next year," Scharf said on the sidelines of a Goldman Sachs financial services conference. ...