WELLS FARGO IS DOWN NEARLY 11,000 EMPLOYEES IN 2026 WHILE EXPANDING IN INDIA The bank's own SEC filing shows 194,369 people on payroll at the end of September, down 10,829 from 205,198 at the end of 2025. Over the past twelve months the drop is 16,452, or about 8% of the workforce. That drop sits next to a large offshore footprint. At year-end 2025, Wells Fargo said approximately 76% of its staff was based in the United States. For now. Wells employs over 30,000 people across its Indian centers. Chennai. Bengaluru. Hyderabad. Even more in Manila. The business is doing fine. Wells Fargo earned nearly $6 billion in the third quarter, up 6% from a year ago, on $21.9 billion in revenue, while personnel expense fell $276 million year over year. Wonder why? In September the CFO told investors that AI "will bring headcount down more." Our work shows Indian salaries are what is bringing it down. The cuts keep arriving in small WARN filings, and the newest covers 173 jobs in Iowa and Virginia by Dec. 26. In Roanoke County, 82 of the 87 jobs are in fraud and claims operations, which you can go ahead and call their customer service and it’ll be clear who is handling that now.

Wells Fargo continues to expand crypto footprint according to Q3 earnings call: - Launched tokenized deposits on its own blockchain for corporate clients - Forming a new company with 20 other banks to issue stablecoins starting H1 2027 - Tokenized deposits will let clients move funds 24/7 across accounts and borders "Last month, we launched tokenized deposits on our proprietary blockchain platform, providing corporate and commercial clients with a new way to move money more efficiently. As we expand the platform, clients will be able to move funds 24 hours a day, seven days a week, across accounts and borders, without changing how they bank with us." — Charlie Scharf, CEO, Wells Fargo