Wells Fargo & Company informed the Wisconsin Department of Workforce Development last week it will permanently eliminate 31 employees at its 100 E. Wisconsin Ave. location in Milwaukee.
The San Francisco-based bank, which has five branches in Milwaukee, informed employees of the separations on Sept. 30. The layoffs affect the Capital Finance and Commercial Banking groups, and will take effect on Nov. 29.
None of the affected employees has bumping rights, nor are any represented by a labor union.
There are now 70 employees at the 100 E. Wisconsin Ave. location, and 2,300 in Milwaukee. The move was part of Wells Fargo’s continuous adjustment of staffing levels to meet the company’s needs, a spokesperson said.
“Wells Fargo is focused on simplifying work and reducing expenses, which will result in some staff reductions. However, as we adjust our workforce in certain lines of business, we are increasing staffing in other areas. Those team members whose positions were eliminated will have an opportunity to seek employment elsewhere within the company. Wells Fargo is committed to Milwaukee and will continue to be,” the company said in a statement.
