Wells Fargo Bank lays off 43 in Omaha area - Omaha.com
Published Thursday, October 17, 2013 at 10:28 am / Updated at 3:55 pm
Wells Fargo Bank lays off 43 in Omaha area

Wells Fargo Bank said Thursday that it had eliminated 43 jobs in the Omaha vicinity, or about 6 percent of the company’s workforce in the area.

Spokeswoman Cristie Drumm said the positions were in mortgage loan processing and underwriting.

“We made this decision as the result of less mortgage refinancing volume than we experienced last year and during 2013,” Drumm said. “After taking a look at the current market conditions and our business needs, we are reducing positions to respond to this change in demand and better align and increase the efficiency of our organization.”

Wells Fargo, based in San Francisco, employs about 700 people in the metro area and about 1,200 in Nebraska, Drumm said. The company operates 21 branches in the metro area and has 13.4 percent of the deposits, good for second place.

Drumm said released employees were given a 60-day notice. They are eligible to transfer to other jobs within Wells Fargo, and the company is trying to retain as many as possible, she said.

The job reductions are part of a nationwide effort by Wells Fargo, the nation’s fourth-largest bank by assets, to cut 925 jobs. In Des Moines, where Wells Fargo employs almost 14,000 people and is the largest employer, 71 positions were eliminated, according to the Associated Press.

Contact the writer: Russell Hubbard

russell.hubbard@owh.com    |   402-444-3133

Russell Hubbard covers banking, financial services, corporate finance, TD Ameritrade, business lawsuits, bankruptcies and other economic and financial topics.

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