Business Briefs

Wells Fargo lays off temp workers

Posted February 25, 2011 4:35 p.m. EST

— Wells Fargo has notified about 100 temporary workers in Raleigh that their jobs will end in two months.

The bank hired the workers about two months ago to handle the rush of applications for mortgages and refinancings spurred by low interest rates, company officials said.

As interest rates have gone up in recent weeks, the demand for financing has gone down, so the jobs were eliminated, officials said.

The workers will receive full pay and benefits until April 24.