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Wells Fargo headcount drops while ranks grow at JPM, Citi and Morgan Stanley

Wells Fargo & Co. on Friday reported total head count of 239,209 as of Sept. 30, down from 243,674 people at the end of the second quarter and 253,871 at the end of the year-ago quarter. During the quarter, Wells Fargo said it was reducing head count in its mortgage unit as demand for home loans falls in the face of higher interest rates. JPMorgan Chase & Co.’s head count grew to 288,474 as of Sept. 30, up from 278,494 at the end of the second quarter and 265,790 at the end of the third quarter of 2021. Morgan Stanley ended the most recent third quarter with 81,567 personnel, up from 78,386 in the second quarter and 73,620 in the year-ago quarter. Citigroup, which rounds out its head count numbers to the nearest thousand, ended the third quarter with 238,000 people on its payroll, up from 231,000 at the end of the second quarter and 220,000 in the year-ago quarter.

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