Wells Fargo Layoffs: Job Cuts Hit Des Moines and Beyond
According to the WARN website, Wells Fargo has announced another round of layoffs. The cuts affect employees at the Jordan Creek campus in West Des Moines. This notice confirms that 33 employees will lose their jobs on April 4.
The company has been reducing its local workforce for several consecutive years. Since April 2022, the Des Moines metro has lost 1,044 Wells Fargo jobs. In 2024 alone, 342 layoffs have already taken place in the region.
First Round of Wells Fargo Layoffs in Des Moines for 2024
This was the first Des Moines metro layoff notice announced this year. A previous notice in December 2023 for 21 employees took effect in February instead.
The company has not responded to requests for official comments about the layoffs. In earlier cases, Wells Fargo explained the cuts as market adjustments, stating that staffing levels are reviewed regularly to match business needs. The bank also says it provides severance pay and career counseling for affected employees.
Job Cuts and Opportunities Still Available
Despite layoffs, the Wells Fargo website continues to list job openings in Iowa. Currently, 46 positions are posted in Des Moines and West Des Moines.
The company claims it tries to place affected workers in other open roles. However, when no jobs are available, employees are provided with assistance such as severance pay, job counseling, and other transition support.
Layoffs Spreading Across the United States
During an earnings call, Wells Fargo confirmed 16 consecutive quarters of workforce reductions. In July, CEO Charlie Scharf noted that staff numbers have been falling for years. Data showed that in the second quarter alone, 11,000 workers were laid off nationwide.
Recent Des Moines notices did not specify which divisions were affected. The bank has previously declined to share detailed information about specific job cuts.
Impact on the Des Moines Economy
In 2017, Wells Fargo employed more than 11,000 workers in the Des Moines metro area, the company’s peak headcount according to the Greater Des Moines Partnership. Since then, employees have been shifted toward the Jordan Creek location, while downtown properties have been vacated.
The bank had planned to sell four large office properties totaling more than 850,000 square feet, along with multiple parking areas. However, no title transfers have taken place yet. This adds uncertainty to the local economy.
Employee Rights and Severance Pay in Canada
Non-unionized Wells Fargo employees in Canada are entitled to severance pay during downsizing, restructuring, or business closure without cause. This applies to full-time, part-time, hourly, and even some contract workers.
Severance pay can be as high as 24 months, depending on circumstances. Employees are encouraged to check offers with a free Severance Pay Calculator before signing. Wrongful dismissals often occur when companies underpay workers at termination.
Growing Layoffs Across Major Companies in 2024
Wells Fargo layoffs are part of a larger global wave of job cuts. Companies such as Intuit, UiPath, Dyson, and SAP Canada have all announced workforce reductions. Major players like Netflix, Intel, Amazon, and Best Buy also cut staff.
Even Canadian giants like Vancity and Telus announced significant layoffs. These moves highlight how businesses are adjusting to tough economic conditions, leaving workers across many industries at risk.
New Layoffs Planned in West Des Moines
Wells Fargo is also planning nearly 80 additional job cuts at its West Des Moines campus. WARN filings confirm a schedule beginning September 23.
- 12 employees on September 23
- 3 employees on October 8
- 16 employees on October 20
- 47 employees on November 18
In total, 78 Wells Fargo jobs will be eliminated in Iowa by November.
Ongoing Layoffs Throughout 2024
The Iowa WARN log shows frequent updates tied to earlier layoff notices. Additional employees were included in revised reports, raising total numbers.
- August 25: 10 layoffs
- Early September: 26 layoffs
- September: 24 layoffs across central Iowa
These numbers confirm that the cuts are not isolated, but part of a steady downsizing trend.
Wells Fargo’s Official Statement
When questioned, a Wells Fargo spokesperson reiterated that staffing levels are regularly reviewed and adjusted for market conditions. The company says it makes efforts to reassign employees to other divisions, but when relocation is not possible, severance packages and career counseling are offered.
Despite repeated layoffs, Wells Fargo insists it values its workforce.
Property Transitions in Downtown Des Moines
Most of the metro workforce has already shifted toward the Jordan Creek site, leaving downtown buildings nearly vacant. Four office properties totaling 850,000 square feet remain scheduled for sale, though no official title transfers have occurred yet.
This uncertainty continues to affect local businesses and the broader economy.
Canadian Employees and Severance Rights
In Canada, Wells Fargo layoffs also trigger significant severance entitlements. Workers in Ontario, Alberta, and British Columbia may qualify, whether they are full-time, part-time, hourly, or contract.
Compensation can reach up to 24 months of pay. Employees are encouraged to review offers carefully using a Severance Pay Calculator and to seek legal advice if wrongful dismissal is suspected.
Importance of Reviewing Severance Packages
Employers sometimes set short deadlines for severance acceptance, but in Canada these are not legally binding. Workers have up to two years to claim their entitlements.
Severance should include base pay, commissions, and other compensation. If offers do not match legal rights, employees should seek representation to avoid financial losses.
Wells Fargo Layoffs in the Global Context
The year 2024 has been marked by mass layoffs worldwide. Shell, Walmart Canada, Ubisoft, Intel, Amazon, SAP, Best Buy, and Stifel are among the many companies cutting staff.
Wells Fargo’s actions reflect this broader pattern of corporate downsizing, showing that no industry is immune.
Legal and Workplace Guidance for Employees
Workers affected by Wells Fargo layoffs should understand their legal protections. Employment lawyers can help review severance offers, negotiate settlements, and handle issues like constructive dismissal, temporary layoffs, and workplace harassment.
Employees on pregnancy leave or with disabilities may also need special legal support. Accessing legal help ensures employees receive the full compensation they deserve.
How Wells Fargo layoffs have hit Iowa
Wells Fargo layoffs have hit Iowa, Canada, and many other U.S. states this year. The company continues cutting jobs while stating it supports affected employees. With over 11,000 staff reduced in 2024, layoffs remain a serious challenge. Workers should review their rights, severance packages, and legal protections. As corporate restructuring continues, employees must prepare for sudden changes.
Wells Fargo layoffs are part of the global pattern of mass workforce reductions.
Conclusion
Wells Fargo layoffs have hit Iowa, Canada, and many other U.S. states in 2024. The company continues to cut jobs while maintaining that it supports affected workers.
With more than 11,000 staff reduced this year alone, the challenge is significant. Workers are encouraged to review their rights, severance packages, and legal protections carefully.
As corporate restructuring continues worldwide, employees must prepare for sudden changes. Wells Fargo’s layoffs reflect a broader trend of mass workforce reductions across industries.
