Wells Fargo laying off ~300 Charlotte employees
Posted on 21 Aug 2013 by Justin Ruckman
Wells Fargo said Wednesday it’s laying off 284 employees in Charlotte as the bank trims its mortgage work force amid rising interest rates. (…)
“While interest rates remain very favorable by historical standards for homebuyers and lenders, the fast-paced consumer demand for mortgage refinancing we experienced throughout 2012 and early 2013 is slowing,” the bank said in an email to the Observer. “After evaluating the current market and our business needs, we are reducing staff in Charlotte and other locations around the country to better align and increase the efficiency of our organization.”
The bank said it’s given employees 60 days’ notice of the layoffs.
Wells, the largest U.S. mortgage lender, employs 20,750 in the nine-county Charlotte area.