Wells Fargo filed a WARN notice on February 5, 2026 for 49 employees at its Jordan Creek campus, with the layoffs scheduled to take effect on April 4, 2026.
The move is part of the bank’s long‑term restructuring program that has been underway since April 2022. The layoffs follow a series of regulatory penalties and the lifting of the Federal Reserve’s asset cap in June 2025, which has allowed the bank to resume asset growth and refocus on high‑margin business lines.
Management said the reduction is intended to trim costs, accelerate the adoption of artificial‑intelligence tools, and concentrate resources on core, profitable segments. CEO Charlie Scharf highlighted the need for efficiency and the role of AI in driving future productivity gains.
Financially, Wells Fargo reported total revenue of $123.5 billion for the year ended December 31, 2025, a 1.5% decline from the prior year, and an earnings‑per‑share of $5.43 for 2024. The bank’s total assets reached $2.15 trillion on February 6, 2026, reflecting the impact of the asset‑cap lift and a renewed focus on growth.
The layoffs are expected to improve operating leverage and free capital for strategic investments, but they may affect employee morale and the bank’s ability to maintain service levels during the transition. The restructuring signals a shift toward technology‑driven operations and a tighter focus on profitability in a post‑regulatory‑penalty environment.
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