Wells Fargo layoffs coming: Bank promises to cut 10 percent over 3 years

(Courtesy of cbsnews.com) Wells Fargo plans to cut up to 10 percent of its workforce over the next three years, the bank said, which will result in thousands of job losses at the nation's third-largest bank. Wells Fargo & Co. Chief Executive Tim Sloan made the announcement to employees on Thursday. The bank currently employs … Continue reading Wells Fargo layoffs coming: Bank promises to cut 10 percent over 3 years

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Vystar employee indicted for embezzlement of $5.4 million

(Courtesy of Jacksonville Business Journal) A former Vystar Credit Union employee, Duane Allen Sikes, has been arrested and accused of perpetuating a "fraudulent scheme to misappropriate $5.4 million," according to an indictment filed Aug. 30 in U.S. District Court. Sikes was a mailroom employee in the credit union's Jacksonville headquarters from 1994 through 2017. He allegedly … Continue reading Vystar employee indicted for embezzlement of $5.4 million

Jax-owned company makes three acquisitions in Virginia

(Courtesy of Jacksonville Business Journal) Meridian Waste, a non-hazardous solid waste services company, has acquired three Virginia-based companies. The acquisitions were fueled by Warren Equity Partners, a Jacksonville Beach-based private equity firm. Georgia-based Meridian acquired Bob's Refuse Service, New River Container and Resource Management Group, all of which will now operate under Meridian Waste/CFS Group … Continue reading Jax-owned company makes three acquisitions in Virginia

JPMorgan rolls out $20 billion investment plan after tax gains

(Courtesy of Reuters.com) JPMorgan Chase & Co (JPM.N) unveiled a $20 billion investment plan on Tuesday to hike wages, hire more, open new branches and expand its business as it takes advantage of sweeping changes to the U.S. tax law and a more favorable regulatory environment. JPMorgan Chase & Co (JPM.N) unveiled a $20 billion … Continue reading JPMorgan rolls out $20 billion investment plan after tax gains

Wells Fargo plans to close 900 branches despite $3.4bn tax boost

(Courtesy of Jacksonville Business News) Wells Fargo operates about 5,860 branches across the country. Wells Fargo plans to close about 900 branches as part of efforts to cut costs in the wake of its mis-selling scandal even though the bank’s profits received an immediate $3.4bn boost from the US corporate tax cut. Executives at the … Continue reading Wells Fargo plans to close 900 branches despite $3.4bn tax boost