A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021.
Wells Fargo, which has reduced headcount for every quarter since the third quarter of 2020, said it still sees more opportunities for layoffs.
Investment banking powerhouse Morgan Stanley also disclosed a near 2% drop in its total headcount on Wednesday, compared to the prior quarter.
At the investment banks Goldman and Morgan Stanley expenses rose 18% and 5% in the quarter, compared to a year earlier.
The bank in January dismissed 3,200 employees, its biggest round of layoffs since the 2008 financial crisis.
Persons:
Brendan McDermid, Jeremy Barnum, Morgan Stanley, Wells Fargo, Thomas DiNapoli, Goldman Sachs, Denis Coleman, That's, Coleman, Manya Saini, Niket, Lananh Nguyen, David Evans
Organizations:
Wall, REUTERS, JPMorgan, PNC Financial, Citigroup, Bank of America, Investment, Banks, Citi, Goldman, BofA, PNC, New York, GOLDMAN, Reuters, Thomson
Locations:
New York, U.S, Wells Fargo, Wells, GOLDMAN SACHS BUCKS, headcount