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Wells Fargo to Cut Over 600 Mortgage Employees

A Wells Fargo & Co. Bank Branch Ahead Of Earnings Figures
Photographer: Bloomberg/Bloomberg

Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.

“After carefully evaluating market conditions and consumer needs, we are reducing to better align with current volumes,” Wells Fargo spokesman Tom Goyda said in an emailed statement.