Some of the cuts involve employees who have been based at the Wells Fargo Center at 1700 Lincoln St. in downtown Denver. (BusinessDen file)
Banking giant Wells Fargo is cutting its staffing in the Denver area.
The company told the Colorado labor department this week that it is laying off 70 employees based at its office at 5700 DTC Parkway in Greenwood Village. That’s on top of 80 staffers being cut from its office in the Wells Fargo Center tower downtown; the company disclosed those cuts in June.
The downtown cuts affect the company’s “internal audit” operations, the company told the state, while the Denver Tech Center cuts concern the “Chief Operating Office Global Operations business unit.”
In both cases, affected employees will receive “formal notices of displacement” by the end of the year, which will give them 60-day notice.
Affected employees can attempt to relocate or secure other positions in the company but will receive severance if they do not do so, according to Wells Fargo.
Wells Fargo informed the state of the cuts in an attempt to comply with the federal Worker Adjustment and Retraining Notification Act, or WARN.
Wells Fargo leases six floors at the Wells Fargo Center at 1700 Lincoln St. in downtown Denver. The company gave up three additional floors it had leased at the end of last year.
Some of the cuts involve employees who have been based at the Wells Fargo Center at 1700 Lincoln St. in downtown Denver. (BusinessDen file)
Banking giant Wells Fargo is cutting its staffing in the Denver area.
The company told the Colorado labor department this week that it is laying off 70 employees based at its office at 5700 DTC Parkway in Greenwood Village. That’s on top of 80 staffers being cut from its office in the Wells Fargo Center tower downtown; the company disclosed those cuts in June.
The downtown cuts affect the company’s “internal audit” operations, the company told the state, while the Denver Tech Center cuts concern the “Chief Operating Office Global Operations business unit.”
In both cases, affected employees will receive “formal notices of displacement” by the end of the year, which will give them 60-day notice.
Affected employees can attempt to relocate or secure other positions in the company but will receive severance if they do not do so, according to Wells Fargo.
Wells Fargo informed the state of the cuts in an attempt to comply with the federal Worker Adjustment and Retraining Notification Act, or WARN.
Wells Fargo leases six floors at the Wells Fargo Center at 1700 Lincoln St. in downtown Denver. The company gave up three additional floors it had leased at the end of last year.
