June 25 Bank of America Corp is laying
off 540 workers at its loss-making legacy assets and servicing
business, which handles delinquent mortgage loans.
The job cuts would affect about 60 percent of employees at
the unit's Charlotte, North Carolina, office who have received
60 days notice, bank spokesman Dan Frahm told Reuters.
Net losses at its Legacy Assets & Servicing business widened
by $2.7 billion to $4.9 billion in the three months ended March
31, 2014 compared to the same period in 2013, according to the
company's quarterly filing. (bit.ly/1yPgQTI)
Employees would have the option to apply for other jobs at
the bank, including 150 positions at the Charlotte call center
and another 250 open positions in Charlotte, the spokesman said.
The job cuts were first reported by the Charlotte Observer.
(Reporting By Aurindom Mukherjee in Bangalore; Editing by Eric