News Column

Bank of America is laying off 103 workers

January 24, 2014

By Carol Hazard, Richmond Times-Dispatch, Va.

Jan. 24 -- Bank of America Corp. is laying off 103 workers in its mortgage operations at Villa Park campus in northern Henrico County . Employees whose jobs are being cut were informed Thursday, a bank spokeswoman said today. Most were given a 60-day notice. Affected employees work in mortgage operations, business lines that have declined as Bank of America and other banks deal with fewer delinquent loans and fewer mortgage refinancings. "We had to retool, take a look at the work force and adjust accordingly," bank spokeswoman Jumana Bauwens said. Another 15 jobs were cut in Norfolk . This round of cuts marks the second for Bank of America at Villa Park in less than six months. It cut 40 positions there last year. In addition to the people who are losing jobs, another 540 people at the Villa Park campus will transfer from the mortgage area to the banking side of credit and consumer deposits, Bauwens said. "They have the expertise and skill sets that allowed for the transfer, she said. The remaining 103 people will have the opportunity to apply for other positions at the bank or they will be given help finding jobs outside the company, Bauwens said. The Charlotte, N.C. -based bank had the equivalent of 2,700 workers in the Richmond area at the beginning of 2013. It's unclear how many people work here now or how many work at its Villa Park site. ___ (c)2014 the Richmond Times-Dispatch (Richmond, Va.) Visit the Richmond Times-Dispatch (Richmond, Va.) at Distributed by MCT Information Services

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Richmond Times-Dispatch (VA)

Story Tools