Why Bank of America is laying off 100+ local workers

Posted at 7:53 AM, Jan 24, 2014
and last updated 2014-01-24 07:53:49-05

HENRICO COUNTY, Va. ( – Bank of America is laying off 103 local workers, the bank said Thursday.

The employees, who received notice Thursday, work in the refinancing and default servicing divisions at the bank’s Villa Park Drive center in Northern Henrico.

It is the second round of layoffs at the location in six months.

Bank of America also said Thursday that it is transferring 540 local workers’ jobs to another division within the Villa Park Drive center. Those employees come from the default servicing and home loan fulfillment divisions and will now work in banking credit and consumer deposits divisions.

“The number of delinquent mortgage loans we service has decreased to less than one-third of the peak levels,” the bank said in a statement.

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