Bank of America Eliminating 540 Jobs in Charlotte


by Caryn Little

CHARLOTTE, N.C. -- Bank of America says they are eliminating 540 jobs in Charlotte.  The company informed the employees in the Legacy Asset Servicing Division that their positions will be eliminated in late August.  

Bank of America released this statement: 

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

The Legacy Asset Servicing Division was formed in early 2011.  The company says the employees affected by the eliminated positions are eligible to apply for open positions at the bank.

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