Wells Fargo issues more layoffs in mortgage business - Phoenix Business Journal

Wells Fargo & Co. has reportedly cut hundreds of workers of its mortgage unit as interest rates dry up home refinancings across the U.S., which cited people close to the situation who asked not to be identified.

No WARN notice from Wells Fargo had appeared on the Arizona Job Connection website as of Dec. 2. A notice is required under the federal Worker Adjustment & Retraining Notification Act if the bank lays off more than 50 people from its locations in the state. The latest reductions in the bank’s mortgage unit add to thousands of cuts already made by Wells Fargo this year, according to Bloomberg,on the bank's plans to shrink its mortgage empire. The company — which is the biggest home lender among U.S. banks — had by then signalled a slow retreat in the mortgage business, abandoning its previous strategy of seeking to be the biggest in the industry.."We won’t be as large as we were historically.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Phoenix Children's, Cigna (CI) in contract disputes - Phoenix Business JournalPhoenix Children's Hospital is in a contract dispute with one of the nation's biggest health insurance companies. They have two months to work out a deal before their current contact expires.
Source: phxbizjournal - 🏆 254. / 63 Read more »

US: Labor market remains far too hot for the Fed's liking – Wells FargoThe US Dollar trimmed weekly losses following the release of the US employment report that showed better-than-expected numbers. Analysts at Wells Farg
Source: FXStreetNews - 🏆 14. / 72 Read more »

Why Gen Z will be a challenge for your business - Silicon Valley Business JournalAs with any new generation that enters the workforce, managers have been flummoxed by Gen Z. Experts say many businesses have a serious Gen Z problem they'll have to address to be successful, but it has nothing to do with the generation's vocal opinions, its willingness to change jobs or its work ethic.
Source: svbizjournal - 🏆 334. / 59 Read more »

RingCentral, Illumina latest Bay Area employers with layoffs - Silicon Valley Business JournalThe business communications company and the biotechnology business said they are responding to 'challenging' economic conditions.
Source: svbizjournal - 🏆 334. / 59 Read more »