Wells Fargo (NYSE:WFC) In Mortgage Slimming

Wells Fargo (NYSE:WFC) has fired 1,900 employees from its mortgage unit. Wells Fargo (NYSE:WFC) In Mortgage Slimming The U.S. bank Wells Fargo (NYSE:WFC) announced that it has dismissed about 1,900 employees from its mortgage unit, as the bank is facing mortgage refinancing issues. The bank is facing a fall in demand for home loans and refinancing. The workers who lost their job include those who joined the company last year. The California unit will lose its 230 employees and about 100 employees will be dismissed from the San Diego area. Wells Fargo (NYSE:WFC) spokesman Jason D. Menke said, “We’re going to see if we can find other appointments for them somewhere in this very large company”. Wells Fargo (NYSE:WFC) shares were at 31.62 at the end of the last day’s trading. There’s been a 0.1% change in the stock price over the past 3 months. Wells Fargo (NYSE:WFC) Analyst Advice Consensus Opinion: Moderate Buy Mean recommendation: 1.96 (1=Strong Buy, 5=Strong Sell) 3 Months Ago: 1.88 Zack’s Rank: 2 out of 15 in the industry
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