Wells Fargo slashes about 400 jobs in 2 months in India; more may follow

Wells Fargo had three centres in India with Bengaluru, Hyderabad, and Chennai till last year, employing about 37,000 people

Wells Fargo’s technology centre in India has slashed about 400 jobs in the last two months, two people familiar with the matter said. This comes at a time when the fourth-largest US lender consolidates its operations in the country.

 

The redundancies are mostly related to the bank’s engineering division with more than 300 people shown the door in June. Also, close to 100 people were dismissed from the chief administrative office (CAO) this month, added the people. 

Wells Fargo India Solutions is a subsidiary of Wells Fargo Bank operating as a global capability centre (GCC) to support the bank’s technology