More Job Cuts  

I hate news like this:

Wells Fargo has ceased indirect auto loan originations from centers in Tempe, Eden Prairie, Minn., and Chester, Pa., said Wells spokesman Steve Carlson in a statement. “Some jobs were eliminated at Wells Fargo Auto Finance, affecting team members in indirect sales, underwriting and funding. Other Wells Fargo Auto Finance functions — such as auto loan servicing — will remain in these three locations, “ Carlson said.

Wells officials would not disclose the number of job cuts at the three U.S. locations or how many workers would be left.

Wells reported the 53 Tempe layoffs to the Arizona Department of Economic Security. Bank officials said the impacted workers have a chance to find other jobs within the combined Wells-Wachovia company.

Wells got some of the Bailout money, it seems that their employees in Tempe (and I'm sure other places) weren't so lucky. I'm guessing that none of these jobs were under any collective bargaining agreement. I suppose this will not be a happy new year for a lot of folks.

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  • Steven  
    4:37 PM

    That is bad. The government takes money (our money, workers money, Wells Fargo Employees money) and gives it to the corporation who in turn lays off people. What a shame.

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