2018 U.S.-Booked Air
Volume: $120 million
2018 Global T&E: $618 million
Consolidated U.S. TMC: Amex GBT
Banking and financial giant Wells Fargo cut its global
T&E expenditure $69 million in 2018 from 2017's $687 million. BTN estimates
Wells Fargo's spending on U.S.-booked air travel dropped, as well, by 8
percent.
Among the moves that the company has made to cut travel
spending is a requirement for travelers to obtain pretrip approval for certain
types of high-cost or international travel and for air carriers and hotels
outside Wells Fargo's roster of preferred suppliers. Employees also must
consider remote conferencing as an alternative to travel for internal meetings
and are required to book travel through the company's preferred channels. Wells
Fargo in recent years has begun treating meetings companywide as a business
process management initiative, gaining more control of the budget-approval
process and capturing savings data.
The carbon dioxide equivalent emissions generated by Wells
Fargo's business air travel dropped more than 3 percent in 2018 to about 93,800
metric tons. Wells Fargo's preferred global travel management company was HRG,
which American Express Global Business Travel acquired last year. The company's
revenue dropped 2 percent in 2018 to $86.4 billion. Wells Fargo employed 258,700
people at the end of last year, down 2 percent from 2017.