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(Des Moines, IA) -- A large Des Moines employer is cutting jobs. Wells Fargo is confirming it has laid off a portion of its home-lending department. The layoff comes two weeks after the company reported a decline in business within its mortgage division because of rising interest rates. Wells Fargo says some of the employees who lost their positions have been offered jobs in other parts of the company. Wells Fargo stock has seen a 3% drop since it announced lower mortgage numbers April 14th.