The move also comes as Wells is seeking to shed $4 billion in
Piedmont is the only major propeller overhaul facility in the world that supports all major propeller manufacturers and their most popular designs.Piedmont has 50 local employees. It provides overhauls and other services for commercial, corporate and military propellers, from the latest carbon fiber models to the older aluminum kind.Wells Fargo Co.The bank is closing its reverse mortgage servicing operating unit, a move impacting 120 jobs. Wells Fargo said the closure resulted from an agreement struck last year to transfer all of the reverse mortgages it had been servicing to another company.The job cuts are just the latest for Wells Fargo in its mortgage division, where in recent years it has cut jobs in Fort Mill and elsewhere as loan refinancings have declined and work involving delinquent loans has dropped off.The move also comes as Wells is seeking to shed $4 billion in expenses through the end of 2019, as it tries to improve an efficiency measure closely tracked by investors and to recover from a scandal over fake accounts.
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