Severe crisis in the U.S Bank
The troubled US bank Wells Fargo is planning a steep reduction of staff that could affect more than 26,000 people.
The firm said it expects headcount to decline by 5% to 10% over the next three years, through a combination of cuts and regular attrition.
The move is part of an effort to make the bank more efficient, as the sector moves online, boss Tim Sloan said.
The firm is also trying to recover from a series of damaging scandals.
The California-based bank attracted public outrage in 2016 after it emerged that sales associates had opened millions of accounts without customer permission.
Source: BBC News
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