Wells Fargo's layoffs in Wachovia's hometown total 548

Charlotte ObserverMay 5, 2009 

CHARLOTTE, N.C. — Wells Fargo & Co. told state officials this week that the company has laid off 548 employees in uptown Charlotte this year as the San Francisco bank absorbs the operations of Wachovia Corp.

The bank said the affected employees work in eight buildings in uptown, including Wachovia's former headquarters. Their departure dates range from Feb. 2 to July 27, "with the majority of them occurring in the next couple of months."

Wells Fargo's letter, dated May 1, arrived at the N.C. Department of Commerce on May 4. Sent under the Worker Adjustment and Retraining Notification (WARN) Act, it's the best glimpse so far of the impact the Wells Fargo acquisition is having on Charlotte, Wachovia's former headquarters.

Wells has said it's cutting the company's combined expenses by 10 percent, but hasn't said how many employees will lose jobs.

"We regularly review and adjust our staffing levels to match the needs of our business, and a reduction is necessary in Charlotte," Wells Fargo human resources vice president Stacey Eggers wrote in the letter.

Read more at CharlotteObserver.com

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