Wells Fargo Cutting 1,800 More Jobs in Mortgage Business
This article is for subscribers only.
Wells Fargo & Co., the biggest U.S. mortgage lender, is eliminating about 1,800 more jobs in its home-loan production business as rising mortgage rates curtail borrowers’ demand for refinancing.
The reductions are in addition to 3,000 earlier this quarter, Tom Goyda, a spokesman for the San Francisco-based bank, said in an interview yesterday. Those included 2,300 announced Aug. 21 and smaller cuts prior to that, Goyda said.