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10 Banks With Looming Layoffs

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Wells Fargo

Wells Fargo (WFC) has been laying off employees across the country as it consolidates operations, finishes integrating Wachovia and eliminates offices due to the closure of the Home Affordable Refinance Program (HARP) program.

Earlier in February the bank let go over 200 employees in Des Moines, Iowa in its Home Affordable Refinance Program division, according to The St Louis Post Dispatch.

Also this month the bank laid off 145 employees in its mortgage division in Orange County, California, according to The Orange County Register.The layoff are part of Wells Fargo's plans to close all 638 offices and cutting 2,000 employees as the company exited the subprime mortgage business announced in July of last year.

This month the bank also cut 142 employees from an auto loan collection office in Kansas City recently, according to The Kansas City Star

Overall, Wells Fargo reported $4.4 million in severance charges in its fourth quarter earnings announcement.
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