It’s a proven fact. Bailouts do not save jobs.
Wells Fargo & Co (WFC.N) Chief Executive Officer John Stumpf, whose company acquired Wachovia Corp, said on Wednesday that minimizing job losses will be a priority but added that some cuts would begin this year.
Stumpf told the Charlotte Observer newspaper that he does not know how many jobs will be lost in the merger and did not provide a specific timeframe for the start of layoffs.
Of course, the government wasn’t thinking about jobs when they started handing out money, so I guess this is a non-issue right?
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