Wells Fargo lays off 92 in Portland

| Print |  Email
Must Reads
Thursday, October 24, 2013

Wells Fargo has laid off 92 employees at a Portland mortgage center over the past few months.

The San Francisco-based bank notified Oregon officials of several rounds of reductions at the facility since August. The laid-off employees are mostly mortgage underwriters and loan specialists, along with a handful of loan officers and managers.

Home mortgage business -- particularly in refinancing loans -- declined in recent months as mortgage rates rose. As a result, Wells Fargo laid off 1,800 employees from its mortgage department in September after cutting about 2,300 jobs from the same unit in August.

Read more at OregonLive.com.

 

More Articles

Shifting Ground

November/December 2014
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE

Bans on genetically modified crops create uncertainty for farmers.


Read more...

Healthcare Perspective

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

A conversation with Majd El-Azma, president and CEO of LifeWise Health Plan of Oregon, followed by the Healthcare Powerlist.


Read more...

Editor's Letter: Power Play

January-Powerbook 2015
Thursday, December 11, 2014

There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:

Old power works like a currency. It is held by few. Once gained, it is jealously guarded, and the powerful have a substantial store of it to spend. It is closed, inaccessible, and leader-driven. It downloads, and it captures.

New power operates differently, like a current. It is made by many. It is open, participatory, and peer-driven. It uploads, and it distributes. Like water or electricity, it’s most forceful when it surges. The goal with new power is not to hoard it but to channel it.

The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace. 

Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.

This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay. 

Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.

New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”

That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!

— Linda


Read more...

Leading with the right brain

News
Tuesday, December 09, 2014
120914-manderson-thumbBY LINDA BAKER

On the eve of the Portland Ad Federation's Rosey Awards, Matt Anderson, CEO of Struck, talks about the transition from creative director to CEO, the Portland talent pool and whether data is the new black in the creative services sector.


Read more...

Free Falling

Contributed Blogs
Thursday, December 18, 2014
121714-oilprice-thumbBY JASON NORRIS | OB CONTRIBUTOR

The implosion of the energy complex: The best thing for low oil prices is low oil prices.


Read more...

What I'm Reading

November/December 2014
Wednesday, October 22, 2014

Peter Lizotte at ACME Business Solutions and Roger Busse at Pacific Continental Bank share their favorite reads.


Read more...

Corner Office: Sheree Arntson

January-Powerbook 2015
Saturday, December 13, 2014

Checking in with the managing director of Arnerich Massena.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS