FIRST ON 3: Wells Fargo/Wachovia shutting down Mortgage Servicing Ctr.; Lays off 259

WILMINGTON, NC (WWAY) — Wells Fargo/Wachovia announced today it is shutting down its retail fulfillment and retail sales center on Parker Farms Drive in Wilmington.

Spokesman Josh Dunn says at least 259 will be either incorporated into other in-house positions or laid off. He also says they will receive pay and benefits through May 23.

Dunn says the move comes as a result of a slow down in the company’s mortgage business.