Local News

Wells Fargo lays off dozens of Raleigh employees

Posted February 3

Map Marker  Find News Near Me

— Wells Fargo announced Wednesday that it would be laying off 87 employees in order to better align with current market volumes.

A spokeswoman for the company said that the change comes after the company evaluated the current market and consumer needs. The bank said that the layoffs were also the result of market changes, including a decrease in foreclosure rates and only a small increase in the demand for mortgage financing.

The 87 employees were given a 60-day notice, effective Feb. 3. Another 69 employees in the Charlotte area were also affected by the job cuts.


Please with your WRAL.com account to comment on this story. You also will need a Facebook account to comment.

Oldest First
View all
  • Fred Holt Feb 3, 2016
    user avatar

    apparently, adding a link for reference is forbidden. Please google wells fargo bailout to find out how much help they got from the taxpayers after their negligent actions nearly crashed the economy of planet earth. While corporations may be people (according to the supremes) these "people" have no soul. Their employees are under the bus, but the execs will get a bigger bonus. Perhaps Bernie is right...

  • Fred Holt Feb 3, 2016
    user avatar

    They are "committed to the communities they serve" - my a**. But they're happy to lean on us when times are tough. Think they offer stopgaps to their employees? Seems not. http://onmay12.org/sites/default/files/Curriculum%20Wells%20Fargo_0_0.pdf