Wells Fargo cuts jobs and moves them overseas
During the past year hundreds of Wells Fargo employees were made redundant as the U.S. bank shifts jobs overseas. A number of jobs may have been relocated to the Philippines as they have expanded operations there in recent years. According to an observer analysis of federal documents, Wells Fargo has quietly shifted work out of the country. In the Charlotte metro area, the bank’s largest employment hub, mortgage jobs terminated this year have also been moved overseas. The bank laid off hundreds of workers in the area, but have not disclosed the specific figure. The layoffs and relocation of jobs were discovered following investigations by the Labor Department. The department said in the past year the bank pushed 600 jobs outside the U.S. The department did not disclose which countries benefitted. Many of the U.S. layoffs have affected call center operations, including about 460 employees who were cut last year when the bank shut down a site in Pennsylvania.
