Wells Fargo to lay off 1,800 mortgage employees - FOX 26 News | MyFoxHouston

Wells Fargo to lay off 1,800 mortgage employees

Posted: Updated:

NEW YORK (AP) — Wells Fargo & Co. says it plans to lay off an additional 1,800 employees from its mortgage department. The plans come after the bank cut about 2,300 jobs from the same unit in August.

Wells Fargo spokesman Alfredo Padillo said that the bank is cutting jobs in the mortgage department because fewer people than it expected are refinancing their mortgages. The jobs are in locations across the country.

The affected employees were given 60 days' notice. The bank says that is looking for other positions for those people within the company.

The San Francisco-based company is the nation's second-largest bank by deposits and is the largest originator of residential mortgages in the U.S.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Your MoneyMore>>

  • Google considers accounts for 10-year-olds

    Google considers accounts for 10-year-olds

    Wednesday, August 20 2014 8:31 AM EDT2014-08-20 12:31:04 GMT
    Kids already spend plenty of time on computers and smart phones. Now Google reportedly wants to get youngsters set up with their own Gmail and YouTube accounts. Some parents told us they aren't thrilled with the idea. Currently, Internet companies such as Google and Facebook do not offer their services to children under 13, but many youngsters and their parents find a workaround.
    Kids already spend plenty of time on computers and smart phones. Now Google reportedly wants to get youngsters set up with their own Gmail and YouTube accounts. Some parents told us they aren't thrilled with the idea. Currently, Internet companies such as Google and Facebook do not offer their services to children under 13, but many youngsters and their parents find a workaround.
  • Facebook tries satire label

    Facebook tries satire label

    Tuesday, August 19 2014 10:32 PM EDT2014-08-20 02:32:56 GMT
    We've all fallen for at least one joke in our lives, probably some internet hoax meant to get a rise out of people. But now Facebook is trying to stop the spread of those fake jokes and stories. When you get the day's headlines from your social media news feed, it can be a challenge to figure out what might be made up or what might be the shocking truth.
    We've all fallen for at least one joke in our lives, probably some internet hoax meant to get a rise out of people. But now Facebook is trying to stop the spread of those fake jokes and stories. When you get the day's headlines from your social media news feed, it can be a challenge to figure out what might be made up or what might be the shocking truth.
  • NJ weighs gambling outside Atlantic City

    NJ weighs gambling outside Atlantic City

    Tuesday, August 19 2014 3:32 PM EDT2014-08-19 19:32:06 GMT
    Momentum to shift some gambling away from Atlantic City increased Tuesday as a state senator introduced plans for a constitutional amendment that would put slot machines at New Jersey's four horse racing tracks, a business group increased its planning for an anticipated full-blown casino at the Meadowlands sports complex and the state gave final approval for the Showboat to shut down.
    Momentum to shift some gambling away from Atlantic City increased Tuesday as a state senator introduced plans for a constitutional amendment that would put slot machines at New Jersey's four horse racing tracks, a business group increased its planning for an anticipated full-blown casino at the Meadowlands sports complex and the state gave final approval for the Showboat to shut down.
Powered by WorldNow

KRIV FOX 26
4261 Southwest Freeway
Houston, TX 77027

Phone: (713) 479-2801
Fax: (713) 479-2859

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices