The San Francisco based bank has quietly put an end to layoffs in recent weeks amid growing pressure to cut costs, and is ready to further cut staff in the coming months and years. “Since the beginning of August, we have resumed regular layoffs,” bank spokesman Beth richek said in a statement Wells Fargo executives are expected to take more significant measures later this year, which could eventually lay off thousands of jobs, according to a report by Bloomberg in early July. “We are at the beginning of a multi-year effort to build a stronger and more efficient company,” richek said. We expect to reduce the number of employees through a series of measures. ” < p > < p > this year, Wells Fargo has been under even more pressure to cut costs as it reported its first quarterly loss in more than a decade and cut its dividend by 80%. Wells Fargo’s layoffs may now test the resolve of its financial rivals, who promise to provide job safety for its vast workforce.