Wells Fargo Closing Collection Center; Laying Off 193 Workers

Published on:
8 April 2011 at 07:32 a.m. ET

http://www.insidearm.com/news/00013070-wells-fargo-closing-collection-center-lay/

Wells Fargo is closing its auto loan collection operation in Bethlehem, Pa. in May, resulting in 193 layoffs, according to The Morning Call.

A bank spokesman told The Morning Call that the move is due to an improved economy and fewer delinquencies in its auto loan portfolio. “We are seeing an improved credit environment, more customers are making their payments on time, customers are paying off their debts and there is a decreased need for team members in collections,” Jim Baum said.

But the spot that currently houses the operation is slated to take on customer service workers from a previous Wachovia center that is being shuttered across town. Wells Fargo and Wachovia merged in 2008.

Those subjected to the layoff, to take effect May 29, will be given help in finding new jobs either within the Wells Fargo family or outside the company.

Wells Fargo Closing Collection Center; Laying Off 193 Workers

Featured Resources

Webinars

RA Compliance Corner: Internal Controls- When and How to Effectively Use Them

About