Bank of America cuts 280 jobs in St. Charles

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by KMOV.com Staff

KMOV.com

Posted on February 14, 2014 at 8:36 AM

Updated Friday, Feb 14 at 8:36 AM

More than 280 employees who work on home loans at the Bank of America corporate center in St. Charles just got a 60 day notice that their positions are going away.

In a statement released by Bank of America representatives, “The number of delinquent mortgage loans we service has decreased to less than one-third of the peak levels.  As we continue to resolve the needs of customers with delinquent loans, we are reducing the size of the operations that support these specialized programs.”

The company also cites an increase in home prices, less “deadbeats” and people under water is apparently bad for their bottom line as well.

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