# The bulk of the cuts were at Wells Fargo & Co. The six top US banks racked up $47.3 billion of net income in the first quarter.

*business · news · 2026-04-15 · Santa Ana Orange County Register*

## Key points

- Wells Fargo reduced its headcount by 4,199 jobs in the first quarter of 2024.
- Citigroup reports over 80% of its 224,000 employees are now using in-house AI tools.
- Citigroup's engineers used AI to remap three decades of coding in just two days.
- US officials recently warned top banks about cyber risks from Anthropic's new AI model, Mythos.
- First quarter 2024 bank job cuts were much larger than the 707 headcount reduction last year.

**Companies:** Wells Fargo & Co., Citigroup Inc., Bank of America Corp., JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs
**Countries:** United States

[Read the full story on Santa Ana Orange County Register](https://www.ocregister.com/2026/04/15/wall-street-banks-cut-5000-jobs-even-as-they-notched-record-profits/)

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