Secretary Newson Announces Steps to Assist Workers Affected by Planned Closure of Wells Fargo

Department of Workforce Development (DWD) Secretary Reggie Newson announced steps that DWD, the Milwaukee Area Workforce Investment Board and regional workforce partners are taking to assist workers affected by Wells Fargo & Co.’s announced closure of its home lending services operation in Milwaukee, prompted by homeowners’ increased ability make required loan payments in the improving economy.

“We are moving quickly to assist affected workers and their families,” Secretary Newson said. “We are working closely with our partners at the Milwaukee HIRE Center to coordinate assistance that connects affected workers with other potential employers in the finance and insurance industry, which we know is actively seeking qualified talent in Wisconsin.”

Wells Fargo & Co., headquartered in San Francisco, announced the layoff of 1,000 workers as part of plans to close its West Parkland Home Lending Servicing center, 11200 W. Parkland Ave. in Milwaukee, in July 2015. The company indicated area banking and other lines of business operations are not affected.

Secretary Newson said DWD and its Milwaukee HIRE Center partners will coordinate a variety of services for affected workers, including Rapid Response orientation sessions to explain Unemployment Insurance benefits, job search assistance and potential job training opportunities.

Secretary Newson encourages workers to visit the JobCenterofWisconsin.com’s Finance and Insurance industry page, a one-stop resource for jobs, training and information about the industry. The state’s finance and insurance industry, comprised of banks, credit unions and insurance companies, accounted for nearly $21.5 billion of the state’s Gross Domestic Product (GDP) in 2012. Over 8 percent of the total state GDP is directly related to this sector.

Affected workers can also contact their local Job Center to inquire about services by visiting www.wisconsinjobcenter.org/directory or toll-free at 1-888-258-9966.

The Rapid Response services are part of the DWD-administered Dislocated Worker Program, which serves workers who become dislocated when a business cuts positions or ceases operations entirely. The goal is to help them find work at new jobs that pay as well or better than their previous employment. Services include training assistance to improve existing skills or provide new job skills for a different occupation.