World News
Wells Fargo is laying off 70 employees in Greenwood Village
Wells Fargo, the state’s largest bank, plans to cut about 70 jobs at its Chief Operating Office Global Operations business unit in Greenwood Village. notice sent to the Colorado Department of Labor and Employment on Tuesday.
“Affected employees who do not relocate or secure other positions within the company will be eligible for paid severance benefits based on years of service and the opportunity to remain enrolled in the company’s health plans at active rates for a specified period of time,” Ashley Frazier , a director of the bank’s Displacements Advisory Group, wrote to the state in a Worker Adjustment and Retraining Notification Act, or WARN, letter.
Frazier said more specific information about the affected job titles, termination dates and the number of displaced employees would follow once official written notices go out. The layoffs will take place at 5700 S. DTC Parkway, Building 15.
The cuts are expected to begin next month and be completed in the fourth quarter, the company said.
The Main business office ensures smooth operations within the bank’s core activities, such as consumer lending and commercial banking. It oversees, among other things, customer service, contact center activities and money movements within the bank.
The layoffs follow one announced in June involving 80 employees at the bank’s internal audit unit at 1700 Broadway in downtown Denver.
Wells Fargo, based in San Francisco, reported having 226,000 employees at the end of last year, down about 12,000 from the year before.
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