Bank of America laying off more employees in Charlotte
Bank of America is laying off an undisclosed number of technology workers in Charlotte, the latest job cuts to hit the second-largest U.S. bank.
Employees were notified of the layoffs this week, sources with direct knowledge of the decisions told the Observer on Wednesday. The cuts affect the Charlotte-based bank’s global technology and operations unit, which is headed by executive Cathy Bessant, who also sits in Charlotte.
Bank of America has trimmed about 75,000 jobs under CEO Brian Moynihan, who has pushed to slash costs at a bank that expanded through decades of acquisitions before he took the helm in January 2010. As of the end of March, it employed 209,000 worldwide, including about 15,000 in Charlotte. Even as the bank has cut jobs in some areas, it has added positions elsewhere, such as sales specialists in branches.