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Bank of America cuts 540 jobs in Charlotte

Posted June 25, 2014

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— 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.

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  • "Screen Name-8/20" Jun 25, 2014

    After closing my account with them after 20 years of doing business with them because of the way they were processing my checks reordered instead of processing them in the order in which THEY received them, they asked me not one question of "Why?"

    That told me right there they didn't care about people, only about money, and I feel sorry for anyone working for them because of that.

    Prayers for those being affected.

  • keeprightexcepttopass Jun 25, 2014

    BOA is horrible. Been with them since the 90s. Suddenly 2 months ago I noticed a $25 maintenance fee 2 months in a row. Turns out they "switched" me to their advantage checking, though there is no evidence of my consent. They refunded me the money but could not answer why they did that. In the process now of transferring everything to my credit union. If you have checking with BOA, look at your statements frequently!!

  • Jim Frei Jun 25, 2014
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    That wipes out the gain from the "new" Advance Auto jobs. Thanks, Pat.

  • Fanny Chmelar Jun 25, 2014
    user avatar

    But... but... I thought McCrory just touted all this economic greatness and job creation on his watch. :: scratches head ::

  • glarg Jun 25, 2014

    Must be the sever winter because we are assured the economy is growing.

  • 42_wral_mods_suck_i'm_gone Jun 25, 2014

    McCrory sending corporate welfare in 3.2.1