, the nation’s largest home loan lender, is laying off 638 employees in its mortgage operations.
The San Francisco-headquartered Wells Fargo stated that it was giving its employees 60 days’ notice and would work to find other employment opportunities within the company. The layoffs include 101 employees in the mortgage operations within the Charlotte, N.C., area, along with 137 employees in Orlando and 190 in Rancho Cordova, Calif.
“After carefully evaluating market conditions and customer needs, we are reducing staff in a number of business units around the company to better align with origination and servicing volume in the current environment,” said Wells Fargo spokesman Josh Dunn. “The decision to reduce our workforce is made with great concern for our team members.”