Wells Fargo Bank plans to lay off 115 call center employees at a facility in Roanoke County, Va. as a result of reductions in delinquencies and foreclosures, according to a spokeswoman.
The cuts, set to take effect in mid-December, account for 6.4% of the site's workforce, The Roanoke Times reported.
The banking call center, which employs 1,800 people, had a workforce of 2,000 people in 2000 when it was part of First Union Corp. First Union merged with Wachovia in 2001. Wells Fargo bought Wachovia in 2008.
Along with the fewer delinquencies and foreclosures, Wells Fargo officials cited less demand for mortgage financing and refinancing as factors in the layoffs. Employees who lose their jobs will be offered employment assistance and a chance at other jobs in the company, according to officials.
Wells Fargo has 11 branches in the Roanoke area and an estimated $1.93 billion in deposits in the Roanoke Metropolitan Statistical Area, which is more than any of 17 other banks in the market.