Wells Fargo Plans Layoffs in Oregon Offices

Wells Fargo is set to lay off a total of 721 employees in Oregon, with 500 job cuts at its Hillsboro office and 221 at its Salem office, as part of its plan to consolidate operations by the end of 2025. The announcement comes via Worker Adjustment and Retraining Notification notices, indicating that affected employees will receive 60 days' notice and may qualify for severance and continued health benefits. The bank aims to merge non-customer facing positions into fewer locations while maintaining its customer service commitments at branch offices. This move follows previous layoffs earlier in the year, as Wells Fargo continues to streamline its workforce in response to operational changes. Despite these layoffs, state economists note that Oregon's labor market remains robust, with low unemployment rates persisting. The closures and layoffs are part of a broader trend affecting other major employers in the region, including Intel and Nike.