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Wells Fargo Pink-Slips Mortgage Bankers After Luxury Retreat

Wells Fargo has shed hundreds of mortgage banking employees, including some whose performance it rewarded earlier this year with a company-sponsored conference at a swanky resort location, per sources familiar with the matter. So reports CNBC.

wells fargo 150x150The layoffs came as part of Wells Fargo’s strategic shift from dominating the mortgage market to focusing on existing customers and minority communities.

The bankers who were let go reportedly worked across the Midwest and the East Coast, outside of Wells Fargo’s branches so they weren’t a match for the plan to serve existing customers.

Read the full article from CNBC.

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