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Business Journal: Wells Fargo to Cut 400 Sac-area Positions

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(Sacramento, CA)
Tuesday, March 16, 2010
The bank will close its Northgate Boulevard call center and keep its operations at 2125 Butano Drive.  The bank — the third-largest based on deposits in the region — will cut about 10 percent of its 4,000 local positions with the shut down.
Bank executives told employees Tuesday, and it’s uncertain how soon those layoffs will take place. Wells Fargo bought Wachovia Bank and has been consolidating some operations to control costs.
A bank spokeswoman said some call center employees could remain with the company in other positions, though how many was uncertain. Wells Fargo is the fifth-largest private employer in the region. The decision is the latest bad news for the community, which is facing a modern-day record 13 percent jobless rate.
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