BOA To Cut 540 Charlotte Jobs -

BOA To Cut 540 Charlotte Jobs

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Over 500 Bank of America employees will be out of a job by the end of the summer. The bank announced it will eliminate 540 Charlotte-based jobs in the Legacy Asset Servicing (LAS) Division by August.

“We value and appreciate the contributions our employees make each and every day to help our customers," the bank said in a statement. "This team grew dramatically during the economic downturn to support short-term needs of mortgage customers who were at risk of foreclosure."

LAS was formed in early 2011. At the peak exceeded 59,000 employees and contractors to support homeowners in need of assistance and meet the demands of borrower volume and regulatory requirements, according to the release.

"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.”









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