Wells Fargo to Slash 400 Jobs at Shoreview Office
Wells Fargo & Co. is shedding 400 jobs at its operations center in Shoreview.
In an Aug. 7 notice filed with Minnesota’s jobs agency, Wells Fargo officials said the change followed a regular business review. The affected employees work from Wells Fargo’s office at 1801 Park View Drive in Shoreview.
“We regularly review and adjust our staffing levels to match the needs of our business,” wrote Anita Steward, employee relations business consultant with Wells Fargo, in the filing. “We will make every effort to minimize the impact and ease the transition for our affected team members.”
Wells Fargo said the change will affect 405 employees in total. The company aims to relocate some non-exempt workers and managers to other locations in the country.
Employees in the eliminated positions provide customer service via phone, email, social media and other “virtual channels,” said Wells Fargo spokesperson Julie Fogerson in an email.
The bank said it will help employees find new jobs either within Wells Fargo or at other companies.
Phone bankers and customer service representatives comprise the biggest share of affected positions. According to the Aug. 7 filing, Wells Fargo is eliminating 286 phone bankers and 92 customer service reps.
The job reductions also will affect a few administrative assistants and managers.
“While we recognize some current jobs will be eliminated with this business decision, the work will be absorbed by other domestic contact center locations,” Fogerson said.
Wells Fargo anticipates that “most, if not all” of the affected employees will take paid leave benefits based on their years of service. None of the employees were represented by a union, the bank noted.
The bank employs around 16,000 people at its Twin Cities offices, Fogerson said, noting that Wells Fargo is the third largst employer in Minnesota. Earlier this year, Wells Fargo laid off more than 100 workers at an office in Bloomington, according to the Star Tribune.
In addition, the bank laid off 115 consumer lending employees at its office in St. Louis Park.
In 2018, Wells Fargo reportedly laid off hundreds of U.S. employees and pushed some jobs overseas, according to the Charlotte Observer.