HILLSBORO, Ore. — More than 700 Wells Fargo employees at offices in Oregon will be laid off in the fourth quarter of 2025. The cuts come as the bank closes some operations in the state and continues to consolidate its workforce.
A total of 500 people will be let go in Hillsboro, according to a notice from the Federal Worker Adjustment and Retraining Notification Act (WARN) posted Wednesday morning. The bank plans to permanently close the Wells Fargo William Barnhart Center on Walker Road, which is expected to happen between Oct. 1, 2025, and Dec. 31, 2025. The bank said in July that it would cut 95 jobs there, and in August 2023, announced plans to lay off 316 employees.
KGW reached out to Wells Fargo for a statement:
"We continue to bring the majority of our non-customer facing positions together in locations best suited for our customers and our company. This effort does not impact our commitment to serving customers and clients; Bank branches and Wells Fargo Advisors branches will continue to meet customers’ and clients’ needs for the best service and advice," a Wells Fargo spokesperson said.
The spokesperson also said that eligible employees will be offered severance, career assistance and other services.
Bank leaders also plan to close the Chief Operating Office Global Operations business unit on Hawthorne Avenue in Salem. That closure is set to happen during the same time period, between Oct. 1, 2025 and Dec. 31, 2025, according to a WARN notice. There are 221 non-union employees who will be impacted, and those who don't relocate and move into other positions within Wells Fargo will be eligible to receive paid severance benefits.
Wells Fargo is the fourth-largest bank in the Portland metro area, with $8.9 billion in deposits.
The Portland Business Journal, a KGW News partner, contributed to this report.