Once its economic engine, Des Moines’ financial industry shedding jobs, led by Wells Fargo
February 13, 2024 by Tyler Jett
When Wells Fargo & Co. announced another round of cuts last fall, losing its place as Des Moines’ biggest private employer, it signaled a larger problem for the local economy.
The problem has been six years in the making, a Des Moines Register analysis and interviews with 25 executives, government officials and economists found.
After decades of strong job growth in the financial sector ― far outpacing the country overall ― the industry has shrunk in the Des Moines metro.
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