Wells Fargo confirms that they will be letting go of 365 employees in the Birmingham area.
A spokesperson for the company says that the "difficult decision" was a result of the decreasing demand for home refinancing across the country. The company says these positions are located within the mortage department.
The company says they will share any open positions within Wells Fargo with the more than 300 employees. If an employee is unable to find another job within Wells Fargo, the company will provide separation benefits, which include health insurance and salary continuation based on service with Wells Fargo.
While the cuts are certainly a blow to both employees and Wells Fargo, the company remains positive about the economic climate in Birmingham.
What's important is that we have every reason to believe that Birmingham and Alabama will continue as significant employment areas for us, especially because of the attractive business environment," Jamie Dexter with Wells Fargo said.
Copyright 2013 WBRC. All rights reserved.
1720 Valley View Drive