Wells Fargo mulls slashing 700 jobs in Manila

A portion of these roles will be moved to India.

Wells Fargo is planning to cut around 700 workers in Manila and transfer a portion of these roles to India, Reuters reported.

The bank has also told around 650 US tech workers to relocate to a bigger market to retain their jobs. It also laid off more than 200 staff in its US lending divisions in 2019.

Last month, Wells Fargo posted a 55% plunge in its Q4 profits.

Here's more from Reuters.