Wells Fargo & Co. expects to eliminate 1,000 teller jobs at former Norwest Corp. branches.
Many of the job cuts will be achieved through attrition, according to an Associated Press report Tuesday. Up to 40% of its tellers leave the banking company every year, according to the report.
After the November merger of Wells Fargo and Minneapolis-based Norwest, the $201.4 billion-asset company said it would cut about 4,600, or 5%, of its 92,000 jobs. The reduction in work force is expected to be completed by the end of 2000, the bank said.
The company did not respond to requests for comment on the AP report.