Retail banking giant Wells Fargo & Co. will close 638 of its Wells Fargo Financial offices throughout the country, including a store in Olympia and 24 others in the state, the company announced this week.
The Olympia Wells Fargo Financial office is at 1001 Cooper Point Road S.W. Two offices in Tacoma also close as part of the corporate restructuring. The decision to close the offices does not affect Wells Fargo’s 152 bank branches or its 35 home mortgage offices in the state. The consumer lending services previously offered by Wells Fargo Financial still will be available through its bank branches and other divisions of the company, spokesman Steve Carlson said.
As part of the restructuring, the 638 offices will be closed over the next 60 days. About 2,800 positions will be cut in the same period and another 1,000 jobs will be cut over the next year, Carlson said. The majority of those 1,000 job cuts, though, will take place at Wells Fargo Financial’s headquarters in Des Moines, Iowa, he said. Carlson also said that some employees will be able to transfer to other Wells Fargo divisions.