Bloomington, MN, USA, March 27, 2019 -- Approximately 202 workers from Wells Fargo's consumer banking business payroll services will be laid off, according to a filing with the state.
The layoffs will happen at the bank's offices in Bloomington, at 1650 W. 82nd St., according to Minnesota's Department of Employment and Economic Development. It's unclear if the employees have union bumping rights. The layoffs will start in late May and continue through the first quarter of 2020, according to a letter Wells Fargo sent to DEED.
The bank told the Business Journal it's outsourcing its business payroll services to ADP, which is why employees will be let go. Wells Fargo clients who used the service will now be able to utilize ADP's offerings.
"The agreement does not include the transfer of any Wells Fargo team members to ADP," a Wells Fargo spokesman wrote in an email. "The relationship with ADP helps us meet our goal of ensuring the business needs of these customers are met to the fullest extent possible."
Positions impacted include but are not limited to: BPS customer service specialist, BPS sales rep, BPS service team lead, call center sales manager, sales development consultant, administrative assistant, BPS payroll tax specialist, client service consultant, client service manager, info security analyst, operations accountant, product manager, quality monitor, technical writer, and work director.
The bank said it will work with the impacted employees on finding them jobs elsewhere within the company.
Wells Fargo has been trimming headcount throughout the country. The San Francisco-based bank said in September 2018 that it would cut five to 10 percent of its total workforce — at least 10,000 jobs — over the next three years. Wells Fargo employs about 265,000 people total and roughly 19,000 in Minnesota.
Posted by Veronica Silva Cusi, news correspondent
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: Friday, March 29, 2019
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