< PrevNext > 36. Wells Fargo San Francisco Share 2019 U.S.-Booked Air Volume: $105 million2019 T&E Expenditure: $580 millionConsolidated U.S. TMC: Amex GBTBTN estimates that U.S.-booked air travel for Wells Fargo dropped in 2019 by 12.5 percent from 2018's $120 million. The banking and financial giant's T&E expenditure also declined during this period, by 6 percent, from $618 million to $580 million. As well, net income was down from $22.4 billion to $19.5 billion. In March 2020, Wells Fargo was one of the first major U.S. banks to restrict non-essential international and U.S. business air travel due to the Covid-19 pandemic. During 2019, the number of full-time active employees remained steady at just under 260,000. But in September 2020, Pensions & Investments reported that the company began notifying employees of job cuts that could affect anywhere from 25,000 to 50,000 employees. The carbon dioxide equivalent emissions produced by Wells Fargo's business air travel remained steady for 2019 at 93,815 metric tons. The company also continues to try to shake its account fraud scandal reported on in 2016, and it hired Charles Scharf as its new CEO in October 2019, the company's third leader in as many years.