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Updated Aug 27, 2013 - 3:38 pm

Wells Fargo hiring 5,000 nationwide after lay-offs

PHOENIX — After laying off nearly 300 in Arizona last week, Wells Fargo is reportedly hiring about 5,000 nationwide.

The company is looking to hire wealth management and brokerage professionals. In an email, Wells Fargo said it does not know how many will be hired in Arizona.

We are constantly evaluating our needs and hiring where necessary,” spokeswoman Lori Brown said in an email. “Of the average 5,000 jobs we add annually, many are due to normal attrition in the business.”

Last week, Wells Fargo laid off about 3,000 employees in its mortgage department. The bank cited a drop in customer volume as the reason for the mass lay-off.

“The mortgage servicing displacements were impacted by a rise in interest rates which affected consumer demand for mortgage financing, causing volumes to fall below what we experienced throughout 2012 and early 2013,” said Brown. “We are reducing staff in Tempe and Phoenix to respond to this shift in demand and better align and increase efficiency of our organization.”

Wells Fargo said last week that all employees being laid off are able to apply for other jobs in the company.

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