But Wells Fargo put shareholders ahead of SJW preening and decided to move some jobs to Charlotte.
From the San Francisco Business Times:
Wells Fargo had some bad news for the Bay Area Tuesday when the bank said it was cutting 55 jobs in Oakland, transferring the work to Charlotte, N.C.
While the number of jobs is small, the cuts underscore the Bay Area's difficulty in competing for jobs that can be done cheaper elsewhere.
"While still committed to serving the area, the company has decided to move some functions within its commercial mortgage servicing (CMS) business that were being performed in dual locations in Oakland and Charlotte, and consolidate them within its Charlotte CMS office," said Wells Fargo spokesman Ruben Pulido.
San Francisco-based Wells Fargo's largest concentration of employees is in the Charlotte metro area, where it has about 23,500 workers. It has about 17,000 workers in the Bay Area, including 8,000 in San Francisco. Companywide, the bank has about 269,000 employees.I like to invest in businesses that have CEOs running the shop instead of SJWs.