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[Wells Fargo Sets Aside $647 Million In Severance Pay, CEO Pushes For Cost Cuts] Wells Fargo Set Aside $647 Million In Severance Pay In The Fourth Quarter, And CEO Charlie Scharf Is Continuing To Cut Staff To Cut Costs And Reshape The Bank. Noninterest Expenses In The Last Three Months Of 2024 Were $13.9 Billion, Down 12% Year-on-Year. The San Francisco-based Company Expects Net Interest Income (NII) To Grow 1% To 3% This Year, A Higher Than Analysts' Expectations. "We Are Still In The Early Stages Of Seeing The Benefits Of Accumulation, And Our Financial Performance Should Continue To Benefit From Our Ongoing Corporate Transformation Efforts," Scharf Said In A Statement On Wednesday
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