According to a company spokesperson, the cuts were sparked by a drop in refinanced mortgages. The processing center opened in Raleigh 2004 and moved to Durham in 2007.
The Durham center will close at the end of the month. The employees will be given special consideration of jobs at Wells Fargo and Wachovia offices.
Wells Fargo bought Wachovia last year and plans to rename all the branches Wells Fargo in 2010.