Wells Fargo & Co. is laying off 90 employees as it closes a division in Jacksonville, the San Francisco-based bank said in a March 4 letter to city and state officials.
The letter sent to Mayor Donna Deegan and the State Trade and Rapid Response Program under the Worker Adjustment and Retraining Notification Act said the bank is exiting the global payments and liquidity business unit within its strategy, digital and innovation division.
According to the Wells Fargo website, that business unit offers services including cash management, liquidity solutions and risk management to help businesses optimize financial processes.
The affected employees work at a Wells Fargo office at 3563 Philips Highway.
Wells Fargo laid off 74 workers at that same office last year, saying in a July 23 WARN letter it was exiting the global operations business unit within its chief operating office.
Wells Fargo said 89 workers were informed about the latest layoff March 4 and given 60 days notice, and one employee was given notice on Feb. 4.
The affected employees will be eligible to receive severance payments based on years of service and the opportunity to continue participating in the company’s health plans for a period of time, it said.
Wells Fargo has the largest branch network in the Jacksonville metropolitan area with 39 offices as of June 30, according to Federal Deposit Insurance Corp. data.
It had 1,180 employees in Northeast Florida according to data published by JAXUSA Partnership in January.