{"id":86702,"date":"2023-12-06T00:37:09","date_gmt":"2023-12-06T05:37:09","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=86702"},"modified":"2023-12-06T00:42:05","modified_gmt":"2023-12-06T05:42:05","slug":"wells-fargo-ceo-warns-of-severance-costs-of-nearly-1-billion-in-fourth-quarter-as-layoffs-loom","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2023\/wells-fargo-ceo-warns-of-severance-costs-of-nearly-1-billion-in-fourth-quarter-as-layoffs-loom.html","title":{"rendered":"Wells Fargo CEO warns of severance costs of nearly $1 billion in fourth quarter as layoffs loom"},"content":{"rendered":"\n<p>(CNBC) <a href=\"https:\/\/www.cnbc.com\/quotes\/WFC\/\">Wells Fargo<\/a> CEO <a href=\"https:\/\/www.cnbc.com\/2017\/09\/12\/jamie-dimon-says-his-successor-as-ceo-is-inside-jpmorgan.html\">Charlie Scharf<\/a> said Tuesday that low staff turnover means the company will likely book a large severance expense in the fourth quarter. \u201cWe\u2019re looking at something like $750 million to a little less than a billion dollars of severance in the fourth quarter that we weren\u2019t anticipating, just because we want to continue to focus on efficiency,\u201d Scharf told investors during a <a href=\"https:\/\/www.cnbc.com\/quotes\/GS\/\">Goldman Sachs<\/a> conference in New York.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/12\/05\/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Wells Fargo CEO Charlie Scharf said Tuesday that low staff turnover means the company will likely book a large severance expense in the fourth quarter. \u201cWe\u2019re looking at something like $750 million to a little less than a billion [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-86702","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=86702"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86702\/revisions"}],"predecessor-version":[{"id":86703,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86702\/revisions\/86703"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=86702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=86702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=86702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}