Wells Fargo to cut nearly 100 jobs at Hillsboro office, WARN Notice says

PORTLAND, Ore. (KOIN) — In the coming months, Wells Fargo will cut nearly 100 jobs in Hillsboro.

The Worker Adjustment and Retraining Notification, or WARN Notice, issued on Tuesday indicates that 95 non-union employees at the office on 10500 NE Walker Rd. will be laid off by Sept. 20.

In a letter, Ashley Frazier — who serves as senior assistant vice president of “Displacements Advisory Group” — said the announcement comes after the finance company decided to leave the Global Operations group that employs the affected workers.

“We regularly review and adjust staffing levels to align with market conditions and the needs of our businesses,” a Wells Fargo spokesperson said in an email. “We work very hard to identify opportunities for employees in other parts of the company so we can retain as many employees as possible.”

“These business decisions are never easy,” Frazier added in the letter, in part. “We are very thoughtful and deliberate in our approach, understanding the impact these decisions have on individuals at the company.”

Both Frazier and the spokesperson said Wells Fargo is committed to giving severance benefits, career assistance and other services to the axed workers.

The severance pay will be based on how long employees have worked for the bank. Some workers will also remain on the company’s health plan “at active rates for a period of time.”

Wells Fargo announced the layoffs of 316 employees from the same location, along with another Hillsboro office on 5205 NE Bennet St., in August 2023. Those job cuts were a result of the bank’s departure from the Enterprise Complaints and Remediations group.

According to its latest financial report, the company’s total revenue increased by less than 1% from the second quarter of 2023 to the second quarter of this year.

Oregon Health and Science University, also plans to lay off hundreds of workers this year.