[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  AIM [@Analyticsindiam](/creator/twitter/Analyticsindiam) on x 18.4K followers Created: 2025-07-16 11:13:51 UTC As part of its global operations realignment, @WellsFargo has laid off nearly XXX employees across its India operations in the past two months, with the majority of cuts affecting the engineering division and Chief Administrative Office (CAO), reports Business Standard. The layoffs align with the company's strategy to consolidate its Global Capability Centre (GCC) footprint, focusing on Bengaluru and Hyderabad, while planning to shut down its Chennai GCC by 2027. In an email to AIM, the company said, “We review and adjust staffing levels to align with market conditions and the needs of our businesses,” adding that efforts were made to redeploy impacted employees. The shift is part of a broader move across the BFSI sector to streamline operations, increase automation, and adapt to evolving economic realities. More than XXX engineering roles were cut in June, followed by XXX CAO roles in July, as companies like Wells Fargo respond to declining net interest income, shrinking mortgage revenue, and a cautious economic outlook. CFO Mike Santomassimo had earlier warned of a “potential net decline” in consumer lending. As @aloukkumar , CEO of @InductusLtd , told AIM, “Climate change, geopolitical instability, and trade tensions are reshaping the business landscape,” prompting companies to prioritise leaner operations. Despite the cuts, India’s role in GCC growth is shifting from low-cost support to a high-value innovation hub with a growing focus on AI, MLOps, and cybersecurity. @WellsFargoCtr  XXX engagements  **Related Topics** [india](/topic/india) [$wfc](/topic/$wfc) [stocks financial services](/topic/stocks-financial-services) [stocks banks](/topic/stocks-banks) [Post Link](https://x.com/Analyticsindiam/status/1945441746630168938)
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AIM @Analyticsindiam on x 18.4K followers
Created: 2025-07-16 11:13:51 UTC
As part of its global operations realignment, @WellsFargo has laid off nearly XXX employees across its India operations in the past two months, with the majority of cuts affecting the engineering division and Chief Administrative Office (CAO), reports Business Standard. The layoffs align with the company's strategy to consolidate its Global Capability Centre (GCC) footprint, focusing on Bengaluru and Hyderabad, while planning to shut down its Chennai GCC by 2027.
In an email to AIM, the company said, “We review and adjust staffing levels to align with market conditions and the needs of our businesses,” adding that efforts were made to redeploy impacted employees. The shift is part of a broader move across the BFSI sector to streamline operations, increase automation, and adapt to evolving economic realities.
More than XXX engineering roles were cut in June, followed by XXX CAO roles in July, as companies like Wells Fargo respond to declining net interest income, shrinking mortgage revenue, and a cautious economic outlook. CFO Mike Santomassimo had earlier warned of a “potential net decline” in consumer lending.
As @aloukkumar , CEO of @InductusLtd , told AIM, “Climate change, geopolitical instability, and trade tensions are reshaping the business landscape,” prompting companies to prioritise leaner operations. Despite the cuts, India’s role in GCC growth is shifting from low-cost support to a high-value innovation hub with a growing focus on AI, MLOps, and cybersecurity.
@WellsFargoCtr
XXX engagements
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