Wells Fargo lays off another 116 employees in the Charlotte region

CHARLOTTE, N.C. — Wells Fargo & Co. announced Thursday it will lay off 116 employees in the Charlotte region.

The San Francisco-based bank again cited the need “to better align with current volumes” in the mortgage market because of “ongoing declines in application volume and in the number of customers in default who need assistance.”

Employees were laid off in the Charlotte and Fort Mill operations. Wells Fargo laid off about 1,000 people nationwide within its consumer lending, virtual solutions and innovations divisions.

[REPORT: Hundreds of families denied loan changes due to Wells Fargo error]

“While the changes announced today are driven by reduced customer demand, we are continuing to transform Wells Fargo to deliver what customers want — including innovative, customer-friendly products and services — and evolving our business model to meet those needs in a more streamlined and efficient manner,” Wells Fargo said in a statement. “The team members affected by these changes have each been an essential part of our success. We will do everything we can to make them aware of other job opportunities within Wells Fargo, or support them as they transition to the next phase of their careers.”

This is the third round of layoffs at Wells Fargo this year.

Wells Fargo lays off another 116 employees in the Charlotte region

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