Headcount Wells Fargo just eliminated more than 700 commercial-banking jobs, pursuing a plan of workforce reductions that could eventually number in the tens of thousands, people with knowledge of the matter said last week. The bank is the industry's biggest employer, but more widespread job cuts are coming as banks abandon their no-layoff policies put in place as the pandemic began to intensify earlier this year. Wells Fargo, Citigroup, JPMorgan and Goldman Sachs are all trimming staff.