Wells Fargo continues cutting local jobs

  • Article by: Jim Buchta , Star Tribune
  • Updated: October 17, 2013 - 11:19 PM

Sharp drop in mortgage refinancing business is blamed.

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holstjOct. 17, 1310:14 PM

C'mon people, it's time to re-fi again and save jobs! Realistically, this is a cyclical business and everyone knows it. Unfortunate for those on the losing end of this deal but we all know the all mighty dollar drives decisions.

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daveschuOct. 17, 1310:24 PM

What a crummy place to work. Friends say...brutal work environment. Too bad!

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minnfidel11Oct. 18, 13 1:13 AM

Can't be. The economy is doing awesome!!!!!!! Just ask Barack.

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jeffportOct. 18, 13 4:26 AM

@daveschu - Disgruntled employee maybe? Sorry buddy, it's a great company, good pay, great benefits. Over 2 decades with the company and still going. Not bad for a guy without a college degree. The company offers opportunities to move to other area's. My advice to a displaced person, do not sit at home collecting a severance package and not look for a job until 30 days before the package runs out. WellsFargo helps employees who's jobs are eliminated.

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jeanm436Oct. 18, 13 5:27 AM

Why don't they use temporary workers or contractors for these kinds of positions? People paid by the hour are more accommodating when extra hours need to be worked because they actually get paid for those extra hours. They also know that when a downturn comes, it's time to look for something new.

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joe_mnOct. 18, 13 6:57 AM

they must be a good company. they keep posting profit reports and the workers keep getting fired. i bet their managers are getting nice bonuses. they can adjust staffing levels quickly to cut workers that are not needed.

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jeffportOct. 18, 13 7:04 AM

@joe_mn - Sounds like a company that is actually run like a company. What a concept. Run a company to make money, not just to hire more people that you need just to keep others happy in life. Go start a business and run it like you think it should then lets see how long it is before you are in the red firing people anyway.

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circleoflifeOct. 18, 13 7:24 AM

jeffport is spot on. Great company to work for and one of their motto's that has held fast and true for YEARS is "retain and retrain". The mortgage area fires/lays off workers every single year yet the media report it as something new and that the sky is falling. Why don't they hire temps? Because then they wouldn't get benefits and the odds to move on to another department or better position are better. I wish people would actually get educated on things before they start posting their hatred for all things corporate or financial.

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Grumpy42Oct. 18, 13 7:33 AM

How do the people who have been laid off from any company pay for Obamacare? Even with a subsidy if you have no income and rely on unemployment insurance how can you insure your family? How could you possibly pay a $12,000.00 deductible before benefits kick in? Why won't anyone answer these questions as I have a grandson that was recently laid off?

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circleoflifeOct. 18, 13 7:41 AM

Grumpy42 "How do the people who have been laid off from any company pay for Obamacare? Even with a subsidy if you have no income and rely on unemployment insurance how can you insure your family? How could you possibly pay a $12,000.00 deductible before benefits kick in? Why won't anyone answer these questions as I have a grandson that was recently laid off?" The answer is get another job or two. Help him out if you can. Ask others in the family for help until he can get back on his feet.

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