Wells Fargo Eliminates 1,900 Mortgage Jobs as Home Lending Slows

Thursday, 07 Apr 2011 01:28 PM

Wells Fargo & Co., the largest U.S. home lender, cut 1,900 employees from its mortgage unit, or less than 1 percent of the workforce, as fewer would-be borrowers submit applications for loans.

Wells Fargo told U.S. employees of the cuts on March 23, giving them 60 days notice, Jason Menke, a spokesman for the San Francisco-based bank, said today. Most employees were in interim roles processing mortgage applications, and a “handfulâ€