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    • Jordan Creek campus loses more workers
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    Jordan Creek campus loses more workers

    Umito Posted on

    Wells Fargo continues to reduce its workforce at its Jordan Creek campus in West Des Moines, announcing the layoff of 32 workers effective December 29.

    The latest announcement will bring the total of announced workforce reductions in the Des Moines metro to 317 so far in 2024 and 986 since April 2022, according to the Department of State. Worker Adjustment and Retraining Notification, or WARN, website.

    Wells Fargo Vice Chairman Michael Slusark released the statement the company makes after each round of layoffs.

    “We regularly review and adjust staffing levels to align with market conditions and the needs of our businesses,” Slusark said. “We work hard to identify opportunities for employees in other areas of the company so that we can retain as many employees as possible. When this is not possible, we provide assistance, such as severance and career advice.”

    In January 2023, in the face of rising interest rates, the San Francisco-based bank announced it was scaling back operations. its real estate loan activitywhose headquarters are in the metro. The latest layoff notices did not indicate which division of the company was cutting jobs.

    Wells Fargo reportedly still has “more than 11,000” metro employees

    In July, Wells Fargo CEO Charlie Scharf said on a conference call with analysts that the bank’s workforce had been declining for 16 consecutive quarters. Wells Fargo has cut a total of more than 11,000 jobs this year across the company, according to second-quarter data.

    It was long the largest employer in the metro, peaking at 14,500 workers in 2017, but it has become overshadowed by Hy-Vee, which is headquartered in West Des Moines. The Greater Des Moines Partnership’s most recent list of the region’s largest workplaces says the bank has more than “more than 11,000” employees.

    It steadily shifted most of its metro workforce to Jordan Creek, largely emptying buildings in other locations, including downtown Des Moines. THE Commercial file reported earlier this week that employees had begun work in 360,000 square feet of renovated office space in Jordan Creek, with $57.7 million in building permits issued.

    Kevin Baskins covers jobs and the economy for the Des Moines Register. Contact him at [email protected].

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