Nearly 200 Wells Fargo workers in North Carolina are losing their jobs
Nearly 200 Wells Fargo employees in North Carolina will lose their jobs this summer, according to an N.C. Worker Adjustment and Retraining Notification Act report.
Wells Fargo will lay off 194 bank workers, effective Aug. 23, at 809 W. 4 1/2 St. in Winston-Salem, according to the WARN report filed Thursday with the North Carolina Department of Commerce.
In February, Wells Fargo provided advance notice to employees about the bank’s decision to exit the chief operating office global operations in the city, the bank said in a June 24 notice to the state and Winston-Salem Mayor J. Allen Joines.
Other business units affected by the layoffs include consumer lending, corporate risk and technology, according to the letter. The WARN notice did not specify the reasons for closing the local business units.
Employees began receiving 60-day notices incrementally starting on April 1, with the majority notified on June 24. Wells Fargo is supporting the displaced employees with severance and career assistance, the bank said.
Customer-facing employees will continue to meet local clients’ needs, Wells Fargo said in an emailed statement to The Charlotte Observer on Sunday. “This action does not impact our commitment to serving customers in the Winston-Salem area,” Wells Fargo said.
About Wells Fargo
Wells Fargo is based in San Francisco and has 215,000 employees, including 27,000 at its largest employment hub in Charlotte.
This month, the Fed removed Wells Fargo’s $1.95 trillion asset cap punishment over its 2016 fake sales scandal. From 2002 to 2016, hundreds of thousands of Wells Fargo’s Community Bank employees opened millions of unauthorized or fraudulent accounts and other financial products to meet excessive sales goals.
There should be growth opportunities across all of Wells Fargo’s business lines with the removal of the asset cap, Chief Financial Officer Mike Santomassimo said June 10 at Morgan Stanley U.S. Financials Conference in New York City.
This story was originally published June 30, 2025 at 5:02 AM with the headline "Nearly 200 Wells Fargo workers in North Carolina are losing their jobs."
