Wells Fargo & Company Layoff — October 2025

Wells Fargo & Company’s CEO Charlie Scharf told Reuters the bank expects further reductions in its workforce and higher severance costs in the current fourth quarter and anticipates having fewer people going into next year as it rolls out AI incrementally through 2026. Scharf said AI will drive efficiencies and could affect headcount, noting engineering teams using Gen AI are 30–35% more efficient, though the bank has not yet reduced coding headcount. Since 2019 Wells Fargo’s employee total fell from 275,000 to just over 210,000 as of Sept. 30, 2025; the company signaled additional cuts align with ongoing efficiency efforts rather than a specific department or location. No explicit headcount number or exact timing for the planned cuts was provided in the article, only that more severance is likely in the fourth quarter and further reductions are expected into 2026.

Wells Fargo & Company disclosed this layoff in an official WARN (Worker Adjustment and Retraining Notification) notice recorded by the TX state workforce agency on October 29, 2025. That record post-dates the layoff itself, which is how a late or amended filing reaches the state. The notice covers 225 employees in Lubbock, TX (Lubbock County), with the layoff effective October 28, 2025.

That is roughly 0.1% of the 220,167 people Wells Fargo & Company employs.

LayoffTalk has tracked 59 layoff events at Wells Fargo & Company since April 2023, including 508 jobs documented in official WARN filings, with 48 additional events known from news reporting.