Wells Fargo (WFC) to Cut Mortgage-Production 2,300 Jobs
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Wells Fargo (NYSE: WFC) will be cutting about 2,300 jobs in its mortgage-production unit, varying from state-to-state where it has operations.
Wells Fargo management noted that it expected the pace of lending to slow this year as rates crept higher, noted Bloomberg today.
Though the cuts are large, Wells employed 274,000 through the middle of the year.
In late trading, Wells Fargo is down modestly Wednesday.
Wells Fargo management noted that it expected the pace of lending to slow this year as rates crept higher, noted Bloomberg today.
Though the cuts are large, Wells employed 274,000 through the middle of the year.
In late trading, Wells Fargo is down modestly Wednesday.
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