Wells Fargo & Co. is cutting 1,900 mortgage jobs as home lending and refinancing slows, according to media reports.
The cutbacks, which were announced to employees March 23, represent 1 percent of Wells Fargo’s entire workforce and 3 percent of its mortgage staff.
Wells Fargo will shutter its auto loan collection operation at Bethlehem’s Lehigh Shopping Center in May, resulting in 193 layoffs.
The move comes as the bank — which took over Wachovia in 2008 — prepares to relocate 450 customer service workers to the Lehigh Shopping Center location on Club Avenue from a former Wachovia call center at 265 Lehigh St. in Allentown it plans to vacate.
Wells Fargo has laid off 67 people in Bedford as part of a broader 1,900-employee reduction in its mortgage processing operations.
The California-based bank, which employs roughly 6,200 people in the Dallas-Fort Worth area, will provide pay and benefits through May 23 to the affected Bedford employees, whose last day with the business is today, according to spokesman Joe Stroop.
Wells Fargo & Co. said Wednesday it is laying off 200 employees in its home mortgage division.
The workers were hired as short-term employees to help the San Francisco-based company work through home loan applications.
The workers were given a 60-day notice on Wednesday.
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