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MarketScreener Homepage  >  Equities  >  Nyse  >  Wells Fargo & Company    WFC

WELLS FARGO & COMPANY

(WFC)
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Wells Fargo to eliminate about 700 jobs in Manila

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02/13/2020 | 09:26pm EDT

Wells Fargo & Co is planning to eliminate about 700 workers in Manila, Philippines, and move a portion of these roles to India that already houses nearly 12,000 tech employees, the U.S. bank's spokesman said on Thursday.

The eliminations of the staff was earlier reported by Bloomberg, which also said the lender is telling about 650 of its tech workers in the United States that they will be required to relocate to a bigger market to keep their jobs.

The bank laid off more than 200 employees in its U.S. lending divisions in 2019, as it reacted to business trends and restructured some units, sources told Reuters in October.

Last month, Wells Fargo reported a 55% slump in its fourth quarter profit as new boss Charles Scharf set aside another $1.5 billion for legal costs related to its sales scandal.

(Reporting by Anurag Maan and Sabahatjahan Contractor in Bengaluru; editing by Uttaresh.V)

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Financials (USD)
Sales 2020 78 172 M
EBIT 2020 23 629 M
Net income 2020 14 699 M
Debt 2020 -
Yield 2020 6,84%
P/E ratio 2020 8,31x
P/E ratio 2021 7,36x
Capi. / Sales2020 1,58x
Capi. / Sales2021 1,58x
Capitalization 124 B
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Technical analysis trends WELLS FARGO & COMPANY
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 28
Average target price 43,07  $
Last Close Price 30,28  $
Spread / Highest target 98,2%
Spread / Average Target 42,2%
Spread / Lowest Target -24,0%
EPS Revisions
Managers
NameTitle
Charles William Scharf President, Chief Executive Officer & Director
Charles H. Noski Chairman
Scott E. Powell Chief Operating Officer & Senior Executive VP
John Richard Shrewsberry Chief Financial Officer & Senior Executive VP
Saul van Beurden Senior Executive VP & Head-Technology
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