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News » Wells Fargo to close Oregon call center, cut 221 jobs

Wells Fargo to close Oregon call center, cut 221 jobs

wells-fargo-to-close-oregon-call-center
Photo from Statesman Journal

OREGON, UNITED STATES — Multinational financial services firm Wells Fargo has announced the impending closure of its call center in Salem, Oregon, leading to the layoff of 221 employees. 

This decision is part of a broader strategy to consolidate operations and cut costs across the company. 

The closure is scheduled for the end of 2025, with formal layoff notices expected in the fourth quarter of that year, as per a Worker Adjustment and Retraining Notification (WARN) notice sent to state and city officials.

Employee support and severance benefits

Employees affected by the closure were verbally informed earlier this week. 

Wells Fargo has assured that those unable to relocate or find new roles within the company will receive severance packages, with benefits calculated based on their years of service. Additionally, these employees will have the opportunity to continue participating in the company’s health plans at active employee rates for a specified duration. 

“Wells Fargo is committed to supporting our displaced employees and provides severance, career assistance, and other services to assist them,” company officials stated.

Broader restructuring in Oregon

The Salem call center closure is part of a larger restructuring effort affecting Wells Fargo’s operations in the state of Oregon. 

Facilities in Hillsboro and Portland are also slated for closure by the end of 2025. In Hillsboro, 500 employees are expected to lose their jobs as part of this consolidation.

Historical context and local response

The Salem facility was originally opened by Wachovia, a financial services company, in 2004 and was acquired by Wells Fargo in 2008. At its peak in 2011, it employed 550 workers at its customer contact center.

The announcement marks one of the most significant layoffs in recent Salem history, drawing concern from local officials. 

Salem Mayor Chris Hoy expressed disappointment over the decision, particularly during the holiday season, highlighting concerns about corporate priorities over community welfare.

“It’s unfortunate for the employees, their families and for our community, and to happen around the holidays makes it feel particularly heartless,” Hoy said in a statement. “Sadly, Corporate America cares about the bottom line and not the common good. Thankfully, Salem continues to see significant economic investment. My hope is that from that perspective, this is a blip on the radar.”

Tom Hoffert, CEO of the Salem Area Chamber of Commerce, attributed the layoffs to Wells Fargo’s national challenges in commercial real estate and lending. 

Meanwhile, Curt Arthur from SVN Commercial Advisors highlighted that Wells Fargo has reduced its lending presence outside major U.S. metropolitan markets, including Salem.

Despite these challenges, local leaders remain hopeful about Salem’s economic resilience. Kristin Retherford, Salem’s director of community planning and development, pointed out ongoing job growth in other sectors within the city.

“Our hearts go out to the 221 employees and community members who will be impacted by this closure,” she said.

Support for affected workers

Kim Parker-Llerenas, executive director of Willamette Workforce Partnership, emphasized that her agency is ready to assist affected employees with unemployment applications, health insurance options, and resume building. 

She noted that with nearly a year to prepare and a low unemployment rate of 4% in Oregon, there are opportunities for displaced workers to find new employment.

Local organizations and community resources are also available to support those impacted by the layoffs. TJ Sullivan, president of the Salem Main Street Association, encouraged affected workers to explore job training resources at Chemeketa Community College and seek assistance from local churches offering emergency support funds.

Read more here.

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