Wells Fargo announced Thursday they were cutting 116 jobs from the Charlotte metro area as part of previously announced plans to cut the bank’s total workforce by 5 to 10 percent over the next three years.
The cuts were part of 1,000 announced nationwide, the San Francisco-based bank said. Those affected work in the bank’s consumer lending group and its payments, virtual solutions and innovations group.
Of the 116 job cuts, 111 are in the bank’s mortgage-servicing operation in Fort Mill. Wells Fargo unveiled the job-cutting plan back in September.
At the time, it said the initiative was designed to streamline the bank and make it more customer-focused. Wells Fargo employs about 25,000 in the metro area, its largest employment hub.