Wells Fargo has announced plans to lay off approximately 700 employees in Oregon as part of its ongoing consolidation efforts. The layoffs will impact 500 workers at the Hillsboro call center located at 10500 NE Walker Road and 221 employees at the Salem office at 355 Hawthorne Ave.
These changes are slated to occur by the end of 2025, according to Worker Adjustment and Retraining Notification (WARN) notices filed on December 4, 2024.
The San Francisco-based bank is closing its global operations offices in Hillsboro, Portland, and Salem as part of a broader strategy to consolidate non-customer-facing positions. A Wells Fargo spokesperson stated, “We continue to bring the majority of our non-customer facing positions together in locations best suited for our customers and our company. This effort does not impact our commitment to serving customers and clients; bank branches and Wells Fargo Advisors branches will continue to meet customers’ and clients’ needs for the best service and advice.”
This move continues a trend of workforce reduction by Wells Fargo in Oregon. Since early 2023, the bank has eliminated around 400 positions at its Hillsboro location.
Employees affected by the Wells Fargo layoffs will receive a 60-day advance notice.