This May 22, 2009 photo shows the sign for Wells Fargo banks in Woodbury, Minnesota. (AFP | KAREN BLEIER)
Wells Fargo announced Wednesday the termination of 118 positions in its consumer-mortgage-loan-processing section in metro Denver.
Cristie Drumm, Wells Fargo spokeswoman for Colorado, said the employees were informed of the decision Wednesday morning.
Drumm said the decision was the result of slower demand for mortgage refinancing than Wells Fargo experienced throughout 2012 and early 2013.
Nationwide, she said, 763 mortgage-loan-processing jobs were being eliminated.
Drumm emphasized that Wells Fargo is committed to retaining as many of the employees ? who were given 60 days' notice ? as it can.
"What we would do, we would meet with each of the team members individually, talk with them about what they might like to do, what other positions they might like to have, the different skills they have and see if we can match them up with an open position," said Drumm.
Drumm said the positions could be anywhere in the United States.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz
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