Wells Fargo is laying off 66 workers at its finance office in Aberdeen.
The office, part of a Wells Fargo Financial division that dissolved in 2010, collected on a so-called runoff portfolio of auto-loan debt, company spokeswoman Staci Schiller said.
Because there were no new loans coming into the portfolio and existing debtors have been paying their bills on time, the collections work disappeared, she said. The company also is consolidating two segments of its auto-finance business, she said.
The employees both managers and hourly workers were notified Thursday. Their last day will be April 2.
The collections work will be absorbed by the banks dealer services department; 80 employees will remain at the office to work on consumer loans, Schiller said.
Carry unfavorable credit ratings concerns? Distinct loan provider remedies with regard to Bad Credit Loan are unquestionably out there for men and women experiencing a bad credit score.
