Wells Fargo Cuts 925 More Mortgage Jobs

摘要

According to a recent report from Reuters, Wells Fargo & Co., the largest U.S. mortgage lender, is laying off 925 employees in its home loan unit as rising rates cut into demand for refinancing. The San Francisco bank provided a 60-day notice on October 16th to the workers whose jobs will be eliminated nationwide, a spokesman said in a statement. The bank will continue to evaluate its staff levels in response to market conditions, the spokesman added. Wells Fargo's mortgage unit is in a "transitional period" as higher interest rates in recent months have made refinancing unappealing, chief financial officer Tim Sloan said on an October 11th conference call with analysts.