AI & Jobs Wall Street Banks Made $47B in Q1 and Cut 7,200 Jobs Anyway — Wells Fargo Just Quietly Hit 23 Quarters in a Row
The six biggest US banks posted $47.3 billion in Q1 net income. Three of them cut 7,272 jobs in the same three months. Wells Fargo is now on 23 consecutive quarters of shrinking headcount, and the CEO said the quiet part out loud: it's the AI investments.