Wells Fargo Home Mortgage announced today that 55 regional team members would be laid off, adding the “staffing changes in Colorado Springs [are] the result of continuing market changes,” according to an email from Nicole Schwab, communications consultant with Wells Fargo Corporate Communications’ Mountain Midwest Region.
“After carefully evaluating market conditions and consumer needs, we are reducing 55 team members to better align with current volumes,” the email said.
Wells Fargo notified 683 mortgage team members across the country and provided them with the reduction notice.
“We are committed to retaining as many team members as we can, and where possible we are working to identify opportunities within Wells Fargo Home Mortgage,” the email said.
The 55 job eliminations are in addition to several staff reductions in various markets since the beginning of 2018, according to Schwab.
“We continue to adjust capacity within our lines of business to meet customer needs — and to ensure we’re operating as efficiently and effectively as possible,” she said.
Schwab said she was unable to disclose how many Wells Fargo personnel currently work in Colorado Springs, whether the cuts were limited to Colorado Springs, which positions would be affected and whether any other Colorado markets would be impacted.