Wells Fargo to move most employees from Des Moines

Wells Fargo is moving the majority of Des Moines employees to its Jordan Creek Campus in West Des Moines, according to an employee email sent Friday from company executive Kristy Fercho that Axios obtained.

Why it matters: The bank is one of the largest employers in the metro, employing roughly 12,000 people.

• The departure is a blow to DSM, which Mayor Frank Cownie described in a statement as "disappointing and frustrating."

Driving the news: The company is exiting the buildings at 800 Walnut St. and 206 8th St. in downtown DSM later this year, company spokesperson Mike Slusark tells Axios.

• A building at 7001 Westown Parkway in WDSM will also be emptied.
• Decisions about the vacated buildings are being reviewed, Slusark said.

State of play: The company will retain some employee occupancy in the 801 Walnut St. building in downtown DSM.

• It has not announced the total number of employees that will be affected by the moves, and Friday's announcement did not include job cuts.

Yes, but: The company slashed more than 400 positions in the DSM metro in at least 10 rounds of cuts last year.

• And it announced earlier this month that it's cutting back on its mortgage-lending business.