CullmanTimes.com - Cullman, Alabama

August 22, 2013

Wells Fargo to cut 365 jobs in Birmingham area


Associated Press

BIRMINGHAM, Ala. —

Wells Fargo plans to eliminate 365 positions in Alabama, officials announced Thursday.

Company executives told WBRC-TV that the jobs are within its mortgage department in the Birmingham area.

The decision was the result of decreasing demand for home refinancing across the nation, company officials said, adding they'll share any open positions with Wells Fargo employees who are going to be impacted by the layoffs.

"We'll do everything we can to help them find a job within Wells Fargo," spokeswoman Jamie Dexter told AL.com

If an employee is unable to find another job within Wells Fargo, the company will provide separation benefits, officials said. Those benefits include health insurance and salary continuation based on service with the bank.

The layoffs in Birmingham are part of a larger pool of 2,323 cuts nationwide. AL.com reported the employees who are slated to be laid off work in the bank's Homewood offices.

The city's tax base is large enough that the layoffs shouldn't pose any problems for city government, although the retail and restaurant industries will likely absorb some business loses, Homewood Mayor Scott McBrayer said.

Employees were notified Thursday and were given 60 days' notice of the impending cuts. After the layoffs, Wells Fargo will employ about 2,000 people in the metropolitan Birmingham area and 3,5000 in Alabama.