Wells Fargo Lays Off Mortgage Bankers Days After Rewarding Some With California Retreat

  • 📰 NBCNewYork
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

Wells Fargo laid off hundreds of mortgage bankers this week, some of whom were successful enough last year to be flown to a California resort for a company-sponsored conference this month

Some of those people were successful enough last year to be flown to a resort in Palm Desert, California, for a company-sponsored conference earlier this month. Palm Desert is a luxury enclave known for its warm weather, golf courses and proximity to Palm Springs.

A Wells Fargo spokeswoman said the bank has communicated with affected employees, provided severance and career guidance, and tried to retain as many workers as possible. The bank will also continue to serve customers"in any market in the United States" through its centralized sales channel, she added.While this latest round of cuts wasn't based on employees' performance, Wells Fargo has also been cutting mortgage workers who don't meet minimum standards of production.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Hugh_Son Our mortgage lender is Wells Fargo and few days before the property closing here in CA they are backing out and unable to provide us with approval nor details and now we are stuck with this deal! Pathetic WellsFargo WFInvesting Ask_WellsFargo. Hope you go bankrupt!

Hugh_Son Worked for a fortune500 who gave people an elaborate holiday party and then laid them all off the next week. 2 weeks before Christmas.

Hugh_Son

Hugh_Son If they treat their top performing employees this way, how do you think they will treat you as a customer? Many of these people had 20 plus years with the bank. It shows you as a customer, once they are done making fees off of you, it is time for you to be dropped at the curb.

Hugh_Son make them feel any better I'm doing fine

Hugh_Son Make them feel any better, I'm doing fine.

Hugh_Son How else were they supposed to pay for it , think people

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 270. in PROPERTY

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wells Fargo lays off mortgage bankers - CNBCWells Fargo & Co laid off hundreds of mortgage bankers this week as part of its recent strategic shift, CNBC reported on Wednesday, citing people with knowledge of the matter. Damn. Maybe it’s because nobody can afford houses besides the top 10%
Source: Reuters - 🏆 2. / 97 Read more »