Under pressure: Wells Fargo plans another $2B in cuts

Under pressure to cut costs, Wells Fargo & Co. (NYSE:WFC) revealed May 11 it plans to reduce expenses by an additional $2 billion by the end of 2019.

That is on top of a previously announced $2 billion in cuts by the end of 2018.

Analysts have been pushing the San Francisco-based bank on expenses following its sales scandal that erupted last September. The company spent close to $80 million in the first quarter on expenses related to sales practices, including legal and consultant costs. That’s…

Under pressure: Wells Fargo plans another $2B in cuts syndicated post

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