Another wave of Wells Fargo layoffs will impact more than 400 Oregon employees

PORTLAND, Ore. (KOIN) — Wells Fargo has announced another wave of job cuts, this time impacting hundreds of Oregon workers across multiple locations.

In three Worker Adjustment and Retraining Notifications issued on Tuesday, the bank revealed 444 Oregon employees will be laid off on Dec. 26. These job cuts will affect 263 workers in Hillsboro, 147 in Salem and 34 in Portland.

“These business decisions are never easy,” Christina Stokes, assistant vice president of Wells Fargo’s Displacements Advisory Group, wrote. “We are very thoughtful and deliberate in our approach, understanding the impact these decisions have on individuals at the company. Wells Fargo is committed to supporting our displaced employees and provides severance, career assistance, and other services to assist them. We will make every effort to minimize the impact and ease the transition for our affected employees.”

This marks another round of Oregon job cuts from the banking giant.

Earlier in October, Wells Fargo revealed that 50 employees in its Downtown Portland office would be laid off starting on Nov. 28. Last December, the company announced that more than 700 roles in Salem and Hillsboro were being eliminated. This followed the bank’s July 2024 announcement that 95 Hillsboro employees would be laid off later in the fall.

Workers impacted by the latest wave of layoffs will continue receiving health coverage “for a period of time” and will also be offered severance packages based on how long they have worked for the company, according to the WARN Notice.