US BANKING FIRM WELLS FARGO FIRES SEVERAL EMPLOYEES FOR ALLEGEDLY FAKING WORK

NEW DELHI: US banking firm Wells Fargo & Co has allegedly terminated more than a dozen employees last month, working in its wealth and investment management unit after discovering that they had faked their work activity using keyboard simulation, as per a Bloomberg report.

"Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior," said bank's spokesperson.

However, it is unclear whether the terminated employees were found guilty of keyboard simulation during Work From Home.

Softwares imitating employee activity became popular during the pandemic after companies were forced to shift to work-from-home mode.

Meanwhile, few years back, the bank also fired some of the employees for alleged violations of its expense policy when they sought reimbursement for ineligible evening meals.

Several finance companies in the US, including banks, have started asking their employees to return to office. However, Wells Fargo took longer than its competitors to call employees back to the office.

It began requesting its employees to return to the office under a "hybrid flexible model" in early 2022. The bank is gradually shifting its policy and requiring its staff to be in the office at least three days a week.

Management committee members are required to be in the office for four days, while many employees, such as branch workers, are required to be in the office for five days.