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10

Wells Fargo Rehires About 1,000 Staff in Wake of Account Scandal

By Tony Seruga

CEO vows that managers will learn from 113-page board report
‘We’re not going to let those mistakes happen again,’ he says

Pedestrians pass in front of a Wells Fargo & Co. bank branch in New York. . Photographer: Victor J. Blue/Bloomberg

Wells Fargo & Co., accused of ousting branch workers who struggled to reach untenable sales targets or objected to burgeoning misconduct, has rehired about 1,000 former employees as Chief Executive Officer Tim Sloan tries to put the scandal to rest.

Sloan, who took the helm in October, announced the hiring spurt on a conference call with journalists Monday as he ticked off reforms and promised managers are learning from a scathing 113-page report the board issued hours earlier on the long-running abuses. The bank created a human resources team months ago to help innocent employees rejoin the company, he said…

Wells Fargo Rehires About 1,000 Staff in Wake of Account Scandal

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