BofA Tells New York of Plans to Cut 69 Tax Facility Jobs
The process will start in October and run through year-end, according to a filing to the state’s Department of Labor. The cuts involve the final full-time positions at the facility in Kingston, New York, said T.J. Crawford, a spokesman for the Charlotte, North Carolina-based lender.
“Based on the progressive decline in volumes of paper returns, we made the decision to cease operations there at the end of 2012,” Crawford said.
Bank of America is trimming $8 billion in costs under Chief Executive Officer Brian T. Moynihan’s efficiency project, partly be cutting 30,000 jobs and consolidating back-office operations.
The New York State Workers Adjustment and Retraining Notification Act, known as the WARN Act, requires private employers with 50 or more people in New York state to provide 90 days’ notice of a plant closing, mass layoff, relocation or reduction in work hours.
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