Wells Fargo & Co., the biggest U.S. mortgage lender, eliminated an additional 925 jobs in its home loan unit and has
The bank gave the affected employees 60 days’ notice Wednesday, Catherine Pulley, a spokeswoman for the San Francisco-based company, said in an emailed statement.
“We are committed to retaining as many team members as possible” and the lender will try to find other opportunities for employees within the company, she said.
Wells Fargo, which reported a 43% plunge in
The business, run by Mike Heid, originated $80 billion of new home loans during the quarter, a 29% drop from the preceding three-month period. Pending mortgages fell to $35 billion from $63 billion in the second quarter.
The lender had about 271,000 people on its payroll on Sept. 30, making it the biggest employer among U.S. banks.