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Why Bank of America is laying off 100+ local workers

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Part of Bank of America’s campus on Villa Park Drive in Henrico County. (PHOTO: Michael Schwartz)

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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  • issatrue

    Gee, thought it might be the Hope that Changed all things for the Better
    over the last five years throughout the Nation and Worldwide.

    • Glen Allen

      It would appear that it is that “hope”. More people are working and paying their mortgages on time, so there is no need for such a large workforce helping those folks. Those jobs were not expected to last. I hope those that are left without jobs because of this, find something else quickly, but this really is good news (bitter sweet, may be a better description)

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