Wells Fargo to lay off 763 home mortgage employees

Julie C. Nichols General

The Charlotte Observer – Deon Roberts

Wells Fargo continues to trim its mortgage operation, announcing Wednesday the layoffs of 763 employees. None of the affected workers are in the Charlotte area, spokesman Josh Dunn said in an email. The San Francisco-based bank did not provide a geographic breakdown of the cuts. At least some of the layoffs will be in St. Louis. On Wednesday, the St. Louis Post-Dispatch reported that the bank laid off 126 consumer mortgage employees in that city. The staff reductions come as the bank reports that higher interest rates are resulting in lower demand among homeowners for refinancings. Last month, The Des Moines Register reported that Wells Fargo told 350 mortgage and retail lending employees that their positions are being eliminated. Dunn said Wednesday that the bank is committed to retaining as many of the workers as it can and is working to identify other job opportunities within Wells Fargo.

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