Wells Fargo officials say they plan to eliminate 365 positions in Alabama.
Company executives told WBRC-TV (http://bit.ly/16dGn6O) that the jobs are within its mortgage department in the Birmingham area.
The company says the decision was the result of decreasing demand for home refinancing across the nation.
Company officials say they will share any open positions within Wells Fargo with the affected employees.
They say that if an employee is unable to find another job within Wells Fargo, the company will provide separation benefits. Those benefits include health insurance and salary continuation based on service with Wells Fargo.
Information from: WBRC-TV, http://www.myfoxal.com/