Wells Fargo on Wednesday sent 60-day layoff notices to about 60 Sacramento employees with WFB's mortgage unit, part of a nationwide purge of some 2,300 jobs in the bank's mortgage-producing arm.
The San Francisco-based bank said it is cutting about 30 jobs in Walnut Creek and some 500 statewide.
Bank officials cited recent, reduced demand for mortgage refinancing.
WFB is the nation's largest mortgage lender, and while California's housing market tanked during the recession, Wells Fargo saw an increase in homeowner refinancing activity as interest rates plunged.
The average rate on a 30-year, fixed-rate mortgage recently surpassed 4.5 percent, up about 1 percent from the previous three months.
WFB officials said the bank would endeavor to find other opportunities within the banking company for workers receiving layoff notices.
Call The Bee's Mark Glover, (916) 321-1184.