Bank of America cuts 540 jobs in Charlotte
Posted June 25, 2014
Charlotte, N.C. — Bank of America cut 540 jobs – nearly two-thirds of the Legacy Asset Servicing division – in Charlotte Wednesday, a spokeswoman said. It marks the biggest bank layoff in the Queen City since 2009.
The Legacy Asset Servicing division deals with mortgages that are past due or in danger of foreclosure. At its peak in 2012, the division numbered 42,000 people across the company managing more than a million mortgages. Since that time, Bank of America has made cuts to Legacy Asset Servicing in other cities, but only Wednesday did a slowdown hit the bank's home office.
About 150 of those whose jobs were eliminated will have a chance to shift to call-center jobs in Charlotte, a company spokeswoman said.
Bank of American has about 15,000 employees in Charlotte.