Wells Fargo remains under the spotlight as investors respond to the financial giant’s recent announcement of workforce reduction plans. The news, which surfaced in late 2023, revealed that Wells Fargo CEO Charlie Scharf shared plans to cut the company’s workforce, anticipating severance costs ranging between $750 million to $1 billion during the fiscal fourth quarter of last year. This strategic move follows earlier layoffs at Wells Fargo disclosed last month, totaling 11,300 jobs or 4.7% of its workforce in 2023. The company’s approach under Scharf’s leadership aims to maintain a workforce presence near its various hubs across the United States. Why Are The Wells Fargo Layoffs Happening The decision to reduce headcount comes in the wake of Wells Fargo’s ongoing efforts to navigate challenges in the economic landscape. Last month, Scharf highlighted the necessity of these payments, citing the need for the company to adjust its workforce amid persistently low turnover rates. In...

Black-owned airlines are uncommon enough, but a Black-owned airline run by a Black woman is an extreme rarity. Stepping to the forefront of the travel industry is Sherrexcia “Rexy” Rolle, the daughter of the owners of Western Air Limited — the largest privately-owned airline in the Bahamas, according to its website. Since the age of 12, Rolle worked alongside her father Captain Rex Rolle — a professional pilot and flight instructor — and her mother Shandrice Rolle — an entrepreneur — to build up the family’s airline since it was founded in 2000 to be what we recognize it as today. From a baggage handler to now Vice President of Operations and General Counsel, Rolle has surpassed many individuals in her industry overseeing Western Air Limited and making international waves all before the age of 30, according to Black Business . In regards to the initial idea for founding an airline company, Rolle shared with ESSENCE that her parents were inspired after noticing all the delays and...