CHARLOTTE, N.C. -- Wells Fargo said Wednesday it will lay off 150 workers in the Charlotte region as the company’s home mortgage refinancing business slows.
The layoffs are on top of 284 Charlotte-area employees the company said it was laying off last month as a result of declining refinancing business.
Wells Fargo spokeswoman Christine Shaw said the 150 workers were among 1,865 company employees across the country who were given 60-day notices Wednesday. In Raleigh, 48 workers received notices Wednesday, she said.
She said the majority of the employees worked as mortgage-loan processors. The layoffs are the result of lower refinancing volume than a year ago and earlier this year, she said.
“There’s a need to continue to right-size that business,” she said.
She declined to specify where the affected workers were employed in Charlotte. A source told the Observer some work in Wells’ Customer Information Center in the University Area.
Wells will try to retain as many of the workers as possible, she said.
“These are wonderful employees,” she said. “It’s not a reflection on their performance. It’s what we’re seeing in the industry right now.”