4 Financial Stock Stories Ready for a Savvy Read
Wells Fargo & Co. (NYSE:WFC): Current price $42.95
In August, Wells Fargo laid off over 280 employees in the Charlotte area, and word is that the bank will add some 150 workers to that number, as the company’s home mortgage refinancing business stalls. Increasing interest rates have slowed down home mortgage refinancing throughout the United States and Bank of America Corp. recently eliminated roughly 2,000 jobs spanning the country in its mortgage business. Spokeswoman Christine Shaw for Wells Fargo said that the 150 Charlotte workers were given 60-day notices on Wednesday, and that 48 workers in Raleigh were also given notices.