Saturday, Jul 02, 2016
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Wells Fargo announces plans to lay off 1,800

NEW YORK — Wells Fargo & Co. plans to lay off an additional 1,800 employees from its mortgage department, after cutting about 2,300 jobs from the same unit in August.

A spokesman said Thursday that the San Francisco-based bank is cutting jobs in the mortgage department because fewer people than it expected are refinancing their mortgages.

The affected employees were given 60 days’ notice, Wells Fargo said. The bank said it is looking for other positions for those people within the firm.

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