Several Florida banking jobs will soon be lost as one large company cuts positions.
Wells Fargo & Co. recently announced its plan to eliminate about 100 positions at its Northeast Florida mortgage operations, formerly of Wachovia Corp. According to an article by the San Francisco Business Times, the jobs to be cut are in a division that handled Wachovia’s pick-a-pay and option adjustable-rate mortgages, which the bank no longer writes.
The 100 jobs represent almost the entire department, which will be consolidated into Wells Fargo’s mortgage-refinance operations in San Antonio. The job reductions are part of the company’s overall efficiency planning and modeling related to the integration.