Wells Fargo lays off 92 in Portland


Wells Fargo has laid off 92 employees at a Portland mortgage center over the past few months.

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Wells Fargo has laid off 92 employees at a Portland mortgage center over the past few months.

The San Francisco-based bank notified Oregon officials of several rounds of reductions at the facility since August. The laid-off employees are mostly mortgage underwriters and loan specialists, along with a handful of loan officers and managers.

Home mortgage business — particularly in refinancing loans — declined in recent months as mortgage rates rose. As a result, Wells Fargo laid off 1,800 employees from its mortgage department in September after cutting about 2,300 jobs from the same unit in August.

Read more at OregonLive.com.


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