Tags: wells fargo | jobs | milwaukee | lending

Wells Fargo to Cut 1,000 Jobs, Shut Milwaukee Home-lending Office

Wednesday, 25 Mar 2015 08:19 PM

Wells Fargo & Co., the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin.

As the U.S. economy has improved over the last two years, the bank has received fewer delinquent payments and fewer customers have required assistance staying in their homes, the bank said in an email on Wednesday.

Wells Fargo, which will close the office in late July, will inform employees of other job opportunities within the company, the bank said.

Shares of Wells Fargo, which had about 265,000 employees as of Dec. 31, were down about 1 percent at $54.82 in afternoon trading on the New York Stock Exchange.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Companies
wells fargo, jobs, milwaukee, lending
113
2015-19-25
Wednesday, 25 Mar 2015 08:19 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved