MINNEAPOLIS — Wells Fargo is the latest major Twin Cities employer to make changes to its employee footprint.
The company told employees Monday that by mid-2024, a majority of Wells Fargo's non-customer-facing employees will work out of three locations, two in downtown Minneapolis and one in Shoreview.
The downtown East Town Campus includes two buildings at 600 South 4th Street and 550 South 4th Street. The other downtown location is the Wells Fargo Center, located at 90 South 70th Street.
Wells Fargo's Shoreview Operations Center is located at 1801 Park View Drive.
"We believe bringing our employees together in fewer buildings will help create a more collaborative work environment that will provide them with access to new, more modern workspaces, technology, and amenities while building a stronger sense of community at work," Wells Fargo spokesperson Staci Schiller told KARE 11 in a statement.
As part of the company consolidation, Wells Fargo is endings its lease in St. Louis Park and plans to sell the Wells Fargo Home Mortgage campus off I-35W in south Minneapolis.
Bank branches and employees are not being impacted by the move.
Wells Fargo's move into downtown Minneapolis bucks a recent trend of major companies and retailers leaving the city.
Earlier this month, AT&T announced it's moving from the company's downtown 34-story building to another facility in Bloomington by the end of August.
In March of 2021, Target announced it was shutting down its City Center location and moving 3,500 employees to other buildings, and last year said HQ employees were moving toward a hybrid work model.
And with an influx of empty office spaces, Minneapolis has started converting some of those buildings into housing. For example, work is underway on turning the old Northstar Center East officer tower into 216 residential units.
In its message to employees, Wells Fargo reiterated the company's commitment to the Twin Cities "as an important market and employment center."
"We’re one of the largest private employers in the state of Minnesota, operating several lines of business throughout the state. We will continue to be a significant employer in the local community and in the state," Wells Fargo said.
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