Wells Fargo lays off 40 workers in Raleigh

Banking giant Wells Fargo is laying off 40 workers in Raleigh as part of a broader reduction of its mortgage staff.

The San Francisco-based bank, which is laying off a total of 182 employees across the country who work with mortgages, said Wednesday that “improvements in delinquency and foreclosure rates and reduced demand for mortgage financing” triggered the move.

The employees who received layoff notices will receive pay and benefits through Nov. 14.

“Wells Fargo is committed to retaining valued team members and, where possible, we will work to identify other opportunities within Wells Fargo,” bank spokeswoman Emily Bauman wrote in an e-mail.

This story was originally published September 16, 2015 at 4:57 PM with the headline "Wells Fargo lays off 40 workers in Raleigh."