FILE – A Wells Fargo Bank sign hangs outside a window in New York on January 13, 2021. Wells Fargo leaders notified Oregon officials on Wednesday, Dec. 4, 2024, that office closures next year will affect hundreds of people in the Salem, Hillsboro and Portland areas.
Mark Lenihan/Associated Press
Wells Fargo will soon lay off hundreds of employees in Hillsboro and Salem, reports say Employee adjustment and retraining notification notifications It was filed Wednesday.
In two notices, the banking giant outlined plans to lay off about 500 employees at its call center at 10500 Walker Road NE in Hillsboro and 221 employees at its office at 355 Hawthorne Avenue in Salem. .
Wells Fargo's headquarters are in San Francisco, but its global operations have offices in Hillsboro, Portland, and Salem. The company announced in October that all of these sites will be shut down by the end of 2025. The news follows an earlier announcement that the bank plans to consolidate some of its operations.
“We continue to consolidate the majority of our non-customer-facing positions into locations that are best for our clients and our company,” a Wells Fargo spokesperson said in an email to OPB. “This commitment does not affect our commitment to serving our customers and clients. Our bank branches and Wells Fargo Advisors branches continue to serve our customers and clients' needs for the best service and advice. I will respond.”
Wells Fargo has been scaling back its presence in Oregon in recent years. The bank has laid off about 400 employees at its Hillsboro store since early 2023.
Other prominent Oregon employers have also announced large-scale layoffs in recent months. Chipmaker Intel will cut 1,300 jobs in Hillsboro, and Portland-based shoe giant Nike will cut 700 jobs at its headquarters near Beaverton.
State economists say Oregon's labor market remains strong despite layoff announcements from major employers, but job growth has slowed this year. still, state labor market With more than 2 million workers, Oregon's unemployment rate has hovered at a historically low 4% for several months.
Employees will receive 60 days' notice.
