The San Francisco-based company expects the facility, which will provide software development, to open in the fourth quarter. Wells Fargo plans at first to hire 30 to 50 people for the unit, and might employ as many as 300 by year end.
Wells Fargo said the opening is not a cost-cutting move. It also said the facility will not affect U.S. employment levels, involve customer-contact positions or manage customer data.
"This is simply about supply and demand," said Victor Nichols, Wells Fargo's head of technology information, in a statement. "Like most major U.S. companies, we're facing a shortage of qualified technical talent, and we're not able to continue to meet this growing demand for such talent here in the United States alone."
