Wells Fargo to cut 87 jobs at Roanoke County center by 26 December

The filings

Three notices cover the office at 7711 Plantation Road in Roanoke County and were filed with Virginia Works. WSLS reported the filing on 2 November. Cardinal News said the letters were posted on the state's layoffs notification website in the past week and were sent to local and state officials.

The letters were dated 29 September, 13 October and 27 October. They set out three termination dates: 60 employees on 28 November, six on 12 December and 21 on 26 December. WSLS reported that the notice dated 27 October says separations begin on or around 26 December, and described "nearly 90" employees facing layoffs. Cardinal News reported 87.

Which jobs are affected

The affected positions include customer service associate manager, customer service manager, fraud and claims operations associate, fraud and claims operations associate manager, lead fraud and claims operations representative, customer service representative, and risk analytics director. Based on the job titles in the letters, the cuts primarily affect Wells Fargo's fraud and claims operations, Cardinal News reported.

In the letters, Wells Fargo said it regularly reviews and adjusts staffing levels to meet the needs of its business. It said the decision was "to exit support operations." WSLS reported that the company did not disclose a reason beyond that.

What the notice offers

"These business decisions are never easy," the notice said, according to WSLS. "We are thoughtful and deliberate in our approach, fully recognizing the impact these actions have on our employees."

Eligible employees will receive severance benefits based on years of service and will have the opportunity to continue participating in the company's health plans at active rates for a period of time, the notice said. Career transition services will be available at no cost through third-party partner Lee Hecht Harrison.

The 60-day rule

The WARN Act requires employers to provide 60 days' notice before mass layoffs or plant closings affecting 50 or more employees at a single site. The letters were sent to comply with the law, Cardinal News reported. The first termination date, 28 November, falls 60 days after the earliest letter on 29 September.

The layoffs reverse part of an expansion. In 2023 the San Francisco-based bank said it would invest $87 million at the Plantation Road center and add 1,100 jobs, Cardinal News reported. The letters now cite a decision "to exit support operations."

Nationwide cuts

The Roanoke layoffs come amid a wider contraction at Wells Fargo. The bank's national employment has fallen by about 65,000 since 2019, the Des Moines Register reported. Chief Financial Officer Mike Santomassimo said in September that growing use of artificial intelligence across technology, legal, finance, operations and customer service would "bring headcount down more."