Will Bank Of America Job Cuts Reach New England? Maybe.

Saul Loeb / AFP/Getty Images

The 3,500 Bank of America job cuts follow 2,500 other cuts earlier this year.

Reporting on the big business news of the day–Bank of America cutting 3,500 jobs–Todd Wallack of the Boston Globe digs into possible regional fallout:

“Bank of America declined to comment on the prospect of further job reductions or say how many of the job cuts will occur in New England.

But Massachusetts will likely be affected because it is one of the company’s largest centers of operations behind North Carolina and New York. In July, Bank of America said it plans to close a printing operation in Malden by next spring, eliminating 150 local jobs.

The bank has roughly 7,000 employees in the state, more than other retail banks, but down from 9,000 in 2007, before the financial crisis and recession took its toll on the banking industry.”

According to New Hampshire Bankers Association President Jerry Little, B of A is one of four large regional, super-regional or (in this case) national banks in the state.  Citizens, TD Bank, and People’s United are the others.


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