Wells Fargo to Forgo Sales Goals

Wednesday, September 14, 2016

Wells Fargo is getting rid of its sales goals for retail bankers. The move is meant to regain customer confidence after the recent sales scandal. Last week Wells Fargo agreed to pay a 185-million dollar fine and refund five-million dollars in fees wrongly charged to customers. It also fired 5,300 employees who opened false accounts to meet sales goals. Employees say they were under pressure to meet "unrealistic" goals or lose their jobs. The bank’s CEO said sales goals will be dropped at the beginning of the year.

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