Wells Fargo Cuts 550 Workers

Wells Fargo has laid off 548 workers at the former Charlotte, North Carolina HQ of Wachovia. The cuts targeted investment banking.

Previously, the bank had announced 75 cuts at that location.

The bank will keep its matching contributions for 401(k) retirement plans.

Headquartered in San Francisco, Wells Fargo & Co is a diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the US by assets, and the second largest bank by market cap.