Wells Fargo & Company (WFC) could see its headcount reduced further to improve efficiency even as the lender has been cutting jobs since the third quarter of 2020, Chief Financial Officer Mike Santomassimo said on Tuesday.
“I’m not suggesting it’s going to be down every quarter forever, right? Like so — but I do think that there’s more to do, and you’ll see that through the headcount number,” said Santomassimo, according to a Capital IQ transcript.
“And it really just is business by business, group by group, making sure we come in every day, every quarter and have a plan to continue to incrementally get better and better.”