Home / Daily Dose / 114 More Jobs Cut by Bank of America
Print This Post Print This Post

114 More Jobs Cut by Bank of America

Bank of America filed a Worker Adjustment and Retraining Notification (WARN) with the Texas Workforce Commission (TWC), alerting the TWC of impending layoffs in three of the bank's North Texas offices.

The notice was sent on March 3, detailing layoffs of 114 workers from two offices in Plano, Texas and one in Richardson, Texas.

The layoff date is April 13, for the Plano, Texas offices, and April 23, for the Richardson office.

Previously in February, Bank of America released 280 workers from their mortgage operations area in St. Charles, Missouri, as well as 450 workers from the bank’s West Coast offices in light of declining business in new loan production.

At the time of the February layoffs, a company spokesperson said, "The number of delinquent mortgage loans we service has decreased to less than one-third of the peak levels. As we continue to resolve the needs of customers with delinquent loans, we are reducing the size of the operations that support these specialized programs."

Bank of America is not the only bank to layoff workers in the wake of declining home mortgage services. Wells Fargo released 700 workers across the country in late February, continuing previous layoffs from August, September, and October.

About Author: Colin Robins

Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News' sister site.

Check Also

Federal Reserve Holds Rates Steady Moving Into the New Year

The Federal Reserve’s Federal Open Market Committee again chose that no action is better than changing rates as the economy begins to stabilize.