News : Wells Fargo Cutting 53 Springfield Jobs
Springfield, IL, Oct 16, 2014 -- Wells Fargo will cut 53 jobs from a Springfield service center as a result of a slowdown in home-mortgage demand.
A company spokesman said that workers were given their 60-day notice. Wells Fargo has a local workforce of more than 700, including the processing center at 4800 Wabash Ave., just off Interstate 72.
"We are committed to retaining as many team members as we can," Steven Carlson wrote in an email, "and where possible, we are working to identify other opportunities within Wells Fargo for affected team members."
Carlson said foreclosure and delinquency rates that have fallen to a four-year low, combined with lower demand for mortgage financing, have reduced processing volume at the Springfield facility. The jobs cut were in mortgage servicing.
The company declined to specify whether jobs were full- or part-time or to give salary ranges.
Wells Fargo eliminated 74 jobs at the Springfield center in the summer of 2013, also as a result of a slowdown in mortgage volume. Wells Fargo had a workforce of approximately 640 when the Springfield center opened in 2004, according to The State Journal-Register archives.
The Springfield facility is adjacent to a former AT&T call center that shut down this summer at the cost of 188 jobs.
Posted by Veronica Silva Cusi, news correspondent
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About Wells Fargo:
Wells Fargo & Company (NYSE: WFC) is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 Wells Fargo and Wachovia stores, 12,000 Wells Fargo and Wachovia ATMs, the internet and other distribution channels across North America and internationally.
Published: Monday, October 20, 2014
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