Laid off from Wells Fargo.
Wells Fargo doesn't announce layoffs so much as file them. The cuts show up as a steady drip of small state WARN notices, site by site, against a quarterly headcount line that's fallen for 24 straight quarters.
At a glance
What's known about Wells Fargo severance and layoffs
- Down 24 straight quarters through July 2026 · Headcount direction
- About 205,000, roughly 76% in the U.S. · Employees at the end of 2025
- $953 million · Severance expense, 2025
- $1.5 billion · Severance expense, 2023
- No terms on record · Individual severance formula
- 60 days from formal notice · Notice period in its WARN letters
- 36 covering 1,849 jobs in 8 states · Filings since the start of 2025
Recent Wells Fargo layoffs
Wells Fargo's July 2026 call marked a 24th straight quarterly headcount drop
Wells Fargo reported 197,000 employees for the second quarter of 2026 on its July 14 call, down 15,000 from a year earlier and the 24th consecutive quarter of declines. The filings have kept pace with the line. Our tracker holds 21 filings covering 654 jobs across five states in 2026.
Previous rounds
Wells Fargo layoff history
If your Wells Fargo notice covered a handful of people, that's the ordinary size here. This bank files constantly and in small batches. We hold 165 all-time Wells Fargo filings, 36 filings covering 1,849 jobs since the start of 2025 across eight states, and 21 filings covering 654 jobs across five states in 2026. One Oregon letter from February 2024 shows the mechanism plainly. It was Supplemental 6 to an existing notice number, listing two employees in the Human Resources unit and naming six earlier letters sent to the same city across 2023. That one notice number kept producing supplemental filings across months, each of them too small to make the news.
The site closures are where the big numbers sit. Notices filed in Oregon in December 2024 covered about 500 employees at the William Barnhart Center in Hillsboro and about 221 at the Salem chief operating office of the global operations business unit, with formal displacement notices expected a full year later. Then three notices in October 2025 covered 444 more Oregon workers, 263 in Hillsboro, 147 in Salem and 34 in Portland, all ending December 26. Those October filings are the two largest rows we hold for the company. Iowa ran the opposite way, small and relentless, with five separate rounds at the West Des Moines campus in the first weeks of 2026, 147 people, after 461 there in 2025.
Where the work went is on the record too. Wells Fargo told employees it planned to pull global operations from more than 150 markets into 13 locations centered on cities including San Francisco, Salt Lake City, Phoenix, St. Louis, Charlotte and New York. In December 2023 CNBC reported that Scharf wanted employees near one of those hubs, that some would be offered paid relocation while others would only be offered severance, and that workers who didn't move might lose their roles. Being a receiving city hasn't meant safety, though. Charlotte is on that consolidation list, and North Carolina still shows up in our filings, with a Winston Salem notice for 196 jobs in June 2025 and a Raleigh notice for 138 in February 2026.
The money gets disclosed in one direction only, upward and in aggregate. Wells Fargo's 2025 annual report puts severance expense at $953 million for 2025, $666 million for 2024 and $1.5 billion for 2023. The headcount line moved the same way the whole time, from 275,000 when Scharf arrived in 2019 to just over 210,000 by September 2025, then roughly 205,000 active employees at the end of that year and 197,000 in the second quarter of 2026, a 24th consecutive quarterly decline. Those are billions of dollars of separations described to investors, with no per-person breakdown on record.
So read your own paperwork against what the bank has told states it does. Its Oregon letter says affected employees get a 60-day notice period, severance benefits based on years of service, the chance to stay in company health plans at active rates for a period of time, and career transition services at no cost, with no bumping rights and no union representation. A spokesperson said much the same to WHO 13 in February 2026, that the bank looks for roles elsewhere in the company first and provides severance and career consulting where it can't. Neither statement is an offer to you. Your separation agreement is, so check the years-of-service figure it uses, the date your active-rate health coverage ends and what it costs after that, and the deadline to sign. Then find your site in every Wells Fargo filing we hold, because the sequence it sits in tells you whether your building is being trimmed or emptied.
Reporting on previous Wells Fargo layoff rounds
2026 · Small notices, arriving continuously. Our tracker holds 21 filings covering 654 jobs across five states in 2026, and Iowa reporting counted five rounds at the West Des Moines campus by early February, 147 people in all.
No terms on record for these rounds. A spokesperson told WHO 13 the bank works to find people other roles first and provides severance and career consulting where it can't.
2025 · The Oregon operations sites emptied out. Three October notices covered 444 workers, 263 in Hillsboro, 147 in Salem and 34 in Portland, all ending December 26, after 50 in the downtown Portland office earlier that month. Iowa lost 461 at West Des Moines.
The bank's own WARN letters describe severance based on years of service and continued participation in company health plans at active rates for a period of time. Severance expense for the year ran to $953 million, including $612 million booked in the fourth quarter.
2024 · Two Oregon closures noticed on December 3, covering about 500 employees at the William Barnhart Center in Hillsboro and about 221 at the Salem chief operating office of the global operations business unit, with formal displacement notices expected a year later.
A 60-day notice period from formal termination notice, severance proportional to years of service, and continued health plan participation at active employee rates for those who didn't relocate or land another internal role.
2023 · About 11,300 jobs through the first nine months, 4.7% of the workforce, leaving 227,363 employees in September.
Scharf warned investors of $750 million to a little less than a billion dollars of severance in the fourth quarter. The year closed with $1.5 billion of severance expense on the books.
How Wells Fargo's layoffs compare to other companies
Citi put a number on its cuts, roughly 20,000 jobs gone by the close of 2026, and Bank of America, steady near 213,000 across two years, told investors its own total should fall this year. Wells Fargo has attached no such number to its own cuts in the reporting we track, which leaves the quarterly headcount line as the one figure that moves on a schedule.
What to do after being laid off from Wells Fargo
- File for unemployment in the state where you worked. Benefits run from your filing date, and severance usually doesn't block you. Wells Fargo's biggest hubs: North Carolina, Iowa, Minnesota, Arizona. Somewhere else? Every state is here.
- Apply for financial and hardship assistance. Unemployment supplements income, but food benefits, health coverage and utility help are often available as well. Here's some of what Wells Fargo's hub states run: North Carolina, Iowa, Minnesota, Arizona, and every other state is here.
- Mind the health insurance window. Losing coverage opens a 60-day special enrollment period, and an ACA plan usually beats unsubsidized COBRA. Compare your options before the employer coverage lapses, and read how the COBRA clocks run if you are weighing it seriously.
- Get your real runway number. Severance plus savings divided by reality. The calculator takes five minutes.
- Know which clocks are already running. Severance review windows, COBRA election, visa grace periods, and 401(k) rollovers all run on federal deadlines that started at termination. All five deadlines are here.
Wells Fargo layoff and severance questions
What severance does Wells Fargo pay?
There are no terms on record for what any one person gets. What's public is the aggregate, $953 million of severance expense in 2025 and $1.5 billion in 2023, and the bank's own WARN language, which describes severance benefits set by years of service, with company health coverage continuing at active rates for a period of time. Your separation agreement holds the actual math.
Is Wells Fargo still cutting jobs?
Yes, and the filings are the direct evidence. Our tracker holds 21 filings covering 654 jobs across five states in 2026. The headcount line runs alongside them, 197,000 in the second quarter of 2026, down 15,000 in a year and a 24th consecutive quarterly decline, though a headcount that falls is counting departures of every kind, not layoffs alone. At a Goldman Sachs conference in December 2025 Scharf said the bank expected fewer people the next year and more severance in the fourth quarter, and in January 2026 he called AI's long-term effect on headcount extremely significant and said the bank aims to use attrition as its friend.
How many Wells Fargo jobs have been cut in 2026?
Our tracker holds 21 filings covering 654 jobs across five states in 2026, counted by the date each notice was filed. Local reporting counts a different way. WHO 13 tallied 147 people across five rounds at the West Des Moines campus by early February, using the dates the jobs actually ended. Both are right about their own window, so don't add them together.
Which Wells Fargo offices have closed?
Oregon has taken the clearest hits. December 2024 notices covered about 500 people at the William Barnhart Center in Hillsboro and about 221 at the Salem global operations office, and October 2025 notices covered 263 more in Hillsboro, 147 in Salem and 34 in Portland. The work has been consolidating into 13 locations centered on cities including San Francisco, Salt Lake City, Phoenix, St. Louis, Charlotte and New York.
How much notice does Wells Fargo give before a layoff?
Its Oregon WARN letters describe a 60-day notice period running from the day formal notice is delivered, and say the affected employees have no bumping rights and no union representation. That's what the bank told one state about particular rounds, so check the notice date printed on your own packet against the day it reached you and against your last day.
Where do I file for unemployment after being laid off from Wells Fargo?
In the state where you worked, not where the company is headquartered. Wells Fargo's biggest U.S. hubs are North Carolina, Iowa, Minnesota, Arizona. Severance usually doesn't block you from filing, and benefits run from your filing date, so file the same week.
Is it OK to file for unemployment after a layoff at Wells Fargo?
Yes. Unemployment insurance is funded by payroll taxes employers pay on wages, the claim never appears on credit reports or background checks, and future employers cannot see it. If the hesitation itself is the obstacle, whether filing is OK has its own article.
What happens to my health insurance after a layoff at Wells Fargo?
Your plan sets the end date rather than the law, so the separation packet is where that date actually lives, and it is often the last day of the month rather than your last day of work. After coverage ends, COBRA lets you keep the identical plan by paying the whole premium yourself, up to 102 percent of what the plan really costs, which lands as several times the payroll deduction you were used to. You get 60 days to elect, counted from the later of coverage ending or the election notice arriving, and electing reaches the coverage back to the day the old plan stopped so no gap exists. How continuation coverage works walks the timing, and whether to take it rather than a marketplace plan is a separate decision.
Should I sign the severance agreement right away?
First pin down how much review time you actually have. If you're 40 or older, federal law gives you 21 days to consider an agreement that waives age claims, 45 in a group layoff, and a waiver signed under a shorter deadline can be invalid. If you're under 40, no federal window applies and the deadline in your packet may be real, so confirm it in writing and ask for more time if you need it. Use whatever window you have to read the release terms, especially non-disparagement and no-lawsuit clauses, and don't stall past a real deadline, because offers can be withdrawn.
Can I collect unemployment if I got severance from Wells Fargo?
Usually yes, though some states delay benefits until severance pay periods end, and lump sums are treated differently than salary continuation. Check your state's rules on our state benefit pages, and file immediately either way so your claim date is locked in.