(Adds details, quotes from paragraph 2-14) By Nupur Anand NEW YORK, Dec 5 (Reuters) - Wells Fargo CEO Charlie Scharf told investors on Tuesday he expects to book higher-than-anticipated severance expenses between $750 million to a little less than $1 billion in the fourth quarter. "We are continuing to focus on efficiency with turnover dropping, unfortunately, we're going to have to be more aggressive about our own internal actions," Scharf said, adding that he thinks it would be the right step in the long term. Last month the bank laid off fewer than 50 bankers from its corporate and investment bank, after the San Francisco-based lender had warned earlier its headcount could decline further in an effort to become more efficient. The bank has reduced its workforce since the third quarter of 2020 and it stood at 227,363 at the end of third quarter of this year. It is still operating under an asset cap that prevents it from growing until regulators deem that it has fixed problems from a fake accounts scandal.