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Wells Fargo moves jobs abroad after U.S. layoffs, government says
Source: Reuters
BUSINESS NEWS DECEMBER 20, 2018 / 5:05 PM / UPDATED 2 HOURS AGO
Wells Fargo moves jobs abroad after U.S. layoffs, government says
Imani Moise
2 MIN READ
(Reuters) - Wells Fargo & Co. (WFC.N) has been hiring overseas after pledging to eliminate thousands of jobs, according to a Department of Labor investigation.
The department determined American employees who have been laid off in Wells Fargo’s customer account management unit after Sept. 28 will be eligible for government aid under the Trade Adjustment Assistance (TAA) program. The program provides weekly income and training to help workers displaced by global trade find new jobs.
The bank “has shifted to a foreign country the supply of a service like or directly competitive with the service supplied by the workers,” the TAA determination said.
The document, available online, did not specify which countries jobs were being moved to or how many people were hired overseas. The department’s findings were earlier reported by The Charlotte Observer.
-snip-
Wells Fargo moves jobs abroad after U.S. layoffs, government says
Imani Moise
2 MIN READ
(Reuters) - Wells Fargo & Co. (WFC.N) has been hiring overseas after pledging to eliminate thousands of jobs, according to a Department of Labor investigation.
The department determined American employees who have been laid off in Wells Fargo’s customer account management unit after Sept. 28 will be eligible for government aid under the Trade Adjustment Assistance (TAA) program. The program provides weekly income and training to help workers displaced by global trade find new jobs.
The bank “has shifted to a foreign country the supply of a service like or directly competitive with the service supplied by the workers,” the TAA determination said.
The document, available online, did not specify which countries jobs were being moved to or how many people were hired overseas. The department’s findings were earlier reported by The Charlotte Observer.
-snip-
Read more: https://www.reuters.com/article/us-wells-fargo-outsourcing/wells-fargo-moves-jobs-abroad-after-u-s-layoffs-government-says-idUSKCN1OJ2V5
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