Report: Wells Fargo Announces Layoffs, 203 in Twin Cities

Updated: 02/27/2014 7:50 AM KSTP.com By: Cassie Hart

Image: Wells Fargo/ Twitter
Image: Wells Fargo/ Twitter

Wells Fargo announced Wednesday it is cutting 700 mortgage-related workers, including 203 in the Twin Cities, according to Minneapolis/St. Paul Business Journal.

The San Francisco-based bank told employees the move comes as the demand for mortgages continues to shrink, according to the report. Most of the Minnesota cuts are at the bank's South Minneapolis home mortgage operation.

At this point, additional details have not been released.