Wells Fargo Advisors will continue to push on with recruiting efforts, despite economic fallout due to the Coronavirus crisis, reported FundFire.
The news came to the outlet by way of a spokesperson for the wirehouse, who told the publication that the company will continue to recruit through these challenging times. It’s another piece of good news from Wells Fargo, who last week announced they would be suspending new layoffs.
Wells Fargo is just one of several major financial sector companies who have announced that they will suspend layoffs despite economic turmoil. Last week, Morgan Stanley CEO James P. Gorman announced that the American multinational investment bank and financial services company has no plans to cut jobs this year, despite the ongoing economic turmoil caused by the financial crisis.
Elsewhere, Citigroup CEO Mike Corbat told CNBC that the American multinational investment bank and financial services corporation “will at least temporarily refrain from layoffs.” Reuters, meanwhile, reported that a source said that Corbat ordered a suspension of planned cuts.
Bank of America, Goldman Sachs, Deutsche Bank, and HSBC have all publicly or privately declared that they will be holding off on reducing their headcounts.
It’s not all rosy in the financial world, however. BlackRock and JPMorgan have reportedly implemented hiring freezes at most of their departments.
