Wells Fargo fired more than a dozen employees after investigating claims that they were pretending to work.
The workers, all employed in the company’s wealth and investment management unit, were fired last month after it was discovered that they were allegedly involved in a “simulation of keyboard activity,” Bloomberg reported. reported Thursday.
According to reports filed with the Financial Industry Regulatory Authority, former employees were “creating an impression of active work” through simulation tools.
“Wells Fargo holds its employees to the highest standards and does not tolerate unethical behavior,” a spokesperson said. Bloomberg.
Dozens of Wells Fargo employees were fired last month after it was discovered they were allegedly involved in ‘keyboard activity simulation.’
The disclosure did not specify whether the employees were allegedly pretending to work from home.
The banking sector was one of the strongest in imposing office work once the COVID-19 pandemic slowed.
Wells Fargo did not impose in-office work as quickly as its rivals, Goldman Sachs Group Inc. and JPMorgan Chase & Co, Bloomberg reported.
In early 2022, Wells Fargo brought most of its employees back to the office to work under a flexible hybrid model.
The practice of simulating keyboard activity became increasingly common and easily accessible during the pandemic.
“Wells Fargo holds its employees to the highest standards and does not tolerate unethical behavior,” a spokesperson said. (pictured: Wells Fargo CEO and Wells Fargo Chairman)
Many people bought devices on Amazon for about $20 that helped them become what is known as “mouse movers” or “mouse jigglers.”
Charles W. Scharf has been CEO and president of the bank since October 2019. He has been a “financial services veteran” for more than three decades,” according to the bank’s report. website.
In recent news, Wells Fargo, Chase, JPMorgan and Bank of America are among major US banks that closed a total of 79 branches in just six weeks, as the industry increasingly moves services online.
The figures suggested the removal of expensive brick-and-mortar locations will continue, with total closures so far for 2024 exceeding 400.
Wells Fargo closed seventeen locations over the past six weeks, announcing eight of the closures in the final week of filings, May 27 to June 1.
Wells Fargo closed seventeen locations over the past six weeks, and announced eight of the closures in the final week of filings, May 27 to June 1.
California was the hardest hit by the recent closures, with 20 closures recorded between April 20 and June 1.
JP Morgan led the campaign by closing 18 branches under its Chase retail division. Wells Fargo was next with 17, including eight last week.
Most national banks such as US Bank, Bank of America, and Wells Fargo are increasingly confident that online banking can meet the needs of most customers.
