North Carolina-based Bank of America (BofA) is reportedly planning to close three offices in Costa Rica, Philippines and Mexico and cut approximately 3,000 jobs, as part of its global operations restructuring strategy.
BofA said that it will mostly cut positions that offer technological and operational support in San Jose, Costa Rica; Guadalajara, Mexico, and Taguig City, Philippines, over the next nine to 12 months.
Go deeper with GlobalData
Some of the work being done by the staff at these offices will be transferred to other locations, which could include Charlotte, BofA said.
Bank of America Corp spokesman Mark Pipitone said, "We review our global operations on an ongoing basis to make the best use of our resources, balance capacity across our sites and simplify our company for our customers and clients around the world.
"Bank of America has a strong track record for helping employees transition to new positions outside our company."
At the end of 2013, BofA had a team of 242,117 full-time employees, down by 9% from the 267,190 full-time staff at the end of 2012.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
