DES MOINES (AP) — Wells Fargo & Co. said it will lay off dozens of employees in the Des Moines area as part of a larger effort to reduce its workforce.
Wells Fargo spokeswoman Angela Kaipust on Wednesday said the bank plans to lay off 71 people in the Des Moines area as part of national layoffs of 925 employees. All of the layoffs are in Wells Fargo's home mortgage division.
More than 400 Wells Fargo workers in the Des Moines area have been given 60-day notices since July 18.
Kaipust said the company is reducing staff because higher interest rates are reducing mortgage refinancing.
Wells Fargo is the largest private employer in the Des Moines area, with more than 13,500 workers.
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