Wells Fargo Is Firing Thousands of Workers Because of AI — And Bank Tellers Are Unionizing for the First Time Ever

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I spent this week talking to bank tellers at Wells Fargo for a special report over at Hard Reset, and what they told me should alarm anyone who thinks their job is safe from AI.

The bank has cut 65,000 jobs since 2019. CEO Charles Scharf just told investors more cuts are coming — permanently. Meanwhile, profits are soaring. Credit card accounts up 20 percent, auto lending up 19 percent, investment banking fees up 14 percent. Fewer people, more money.

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Branch employees describe what’s happening on the ground: three tellers became two, then one. Lines getting longer. Pressure mounting. Work that used to require human judgment now gets handled by an app, with AI guiding and surveilling every interaction. The jobs aren’t disappearing — they’re just getting piled onto fewer bodies, all of them working “at-will” with zero protection.

And that’s why, for the first time in American history, bank tellers at a national institution are unionizing. Twenty-eight Wells Fargo branches across 14 states have voted to join the Communications Workers of America. Banking was always the stable, boring job that didn’t need a union. That deal is broken.

Here’s what gutted me: the workers getting hit hardest are women without college degrees, especially women from Black and brown communities. Retail banking was a reliable path to middle-class stability for those folks. Now those jobs are being automated away, and as one banker pointed out, the money saved flows straight up to an overwhelmingly white, male executive class.

This is the forecast. AI isn’t coming for jobs in some distant future. It’s here. It’s seeping into white-collar work that we assumed to be safe. And the only people who know it are the ones already being forced out the door.

Read the full investigation at Hard Reset.

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