Tarnished banking giant Wells Fargo said Thursday it will cut an additional $2 billion in costs each year as it aims to restore its reputation following a fake bank accounts scandal. The leader in mortgage lending said it will slash another $2 billion annually by 2019 through a variety of measures, such as greater use of automation, outsourcing and reducing the number of bank branches as more customers use digital technology.

Those cuts are on top of $2 billion in annual savings previously announced which are expected to take effect by 2018. The bank plans to close 450 branches this year and next, a move that responds to greater consumer use of digital banking programs.

Copyright Agence France-Presse, 2017