Bank of America Cuts 540 Jobs in Charlotte

CHARLOTTE, NC (WCNC) -- Bank of America has issued layoffs to 540 employees in Charlotte.

This applies to the Legacy Asset Servicing division. The positions are being eliminated in late August.

The affected employees include customer relationship managers.

The bank says there is a decreasing number of customers at risk for foreclosure, which these employees provide.

In 2011, the number of customers facing foreclosure peaked at 1.4 million, causing employment to grow. About 150 of the employees have the opportunity to shift to different positions in Charlotte and there are 250 openings in the city.

Bank of America says it will offer job search training.

This is the largest big bank layoff in Charlotte since 2009.

Bank of America issued the following statement:

"We value and appreciate the contributions our employees make each and every day to help our customers. This team grew dramatically during the economic downturn to support short-term needs of mortgage customers who were at risk of foreclosure. Thanks to their hard work and an improving economy, the number of customers who need those specialized services has dropped dramatically to just one-fifth of peak levels. While these are difficult actions for us to take, we are now returning to normal staffing levels."


To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment