How many people will be laid off due to the merger of Wells Fargo and Wachovia?

John Stumpf, CEO of Wells Fargo has announced that their company will try to avoid mass lay off however some cuts will take place. According to Reuters news agency Mr. Stumpf said that they have already frozen new hiring and posting jobs internally to save their existing personnel. He also added that he doesn’t know how many people will be dismissed. 

Stumpf said some cuts would begin this year, while others could take longer because of the gradual integration with Wachovia Corp which was acquired on December 31 for $12.7 billion.

At the moment Wells Fargo employs more than 20,000 workers in Charlotte, the former headquarters of Wachovia.

Source: Reuters