Wells Fargo layoffs, on the record
Every job cut, severance charge and restructuring Wells Fargo reported in its annual reports, 2022 to 2025, quoted from the filings. Headcount went from approximately 238,000 to approximately 205,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 238,000 | December 31, 2022 |
| 10-K for 2023 | approximately 226,000 | December 31, 2023 |
| 10-K for 2024 | approximately 217,000 | December 31, 2024 |
| 10-K for 2025 | approximately 205,000 | December 31, 2025 |
Job cuts, severance and restructuring
None of Wells Fargo’s annual reports for 2022 to 2025 describes a layoff, workforce reduction or restructuring.
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2018-12-31 | — | $0 |
| 2019-12-31 | — | $0 |
| 2020-12-31 | — | $1.5 billion |
| 2021-12-31 | $97 million | $76 million |
| 2022-12-31 | $397 million | $5 million |
| 2023-12-31 | $1.5 billion | $0 |
| 2024-12-31 | $666 million | — |
| 2025-12-31 | $953 million | — |
Wells Fargo has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Wells Fargo’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-24. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.