NEW YORK, Sept 12 (Reuters) - Wells Fargo (WFC.N) could see its headcount decline further as it aims to improve efficiency, Chief Financial Officer Mike Santomassimo said on Tuesday.

The bank has been trimming its workforce since the third quarter of 2020. It has already reduced its employee base by nearly 40,000 and cuts are likely to continue, Santomassimo said.

"I do think that there's more to do, and you'll see that through the headcount number," he added.

Wells Fargo had 233,834 employees at the end of the June quarter compared to 243,674 in the second quarter last year.

The bank has trimmed its mortgage business, which has also seen some layoffs.

The industry is also seeing pressure in the commercial real estate business and particularly in office loans, which has emerged as a big worry for banks as financing costs rise for many buildings that have been largely vacated by employees who opt to work remotely.

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