News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Wayside Furniture

Akron General

Don Drumm Studios


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Bank of America sheds 1,000 Northeast Ohio jobs, citing the mortgage market
Beachwood will take the biggest hit
Story by KEVIN NIEDERMIER AND M.L. SCHULTZE


 
In The Region:

Bank of America confirmed today it’s closing two centers in Cleveland, putting more than a thousand people out of work. 

LISTEN: Mortgages, Bank of America and layoffs

Other options:
Windows Media / MP3 Download (0:59)


Employees at the Beachwood mortgage and consumer banking office have learned it will close Oct. 31. About two thirds of them work in home-loan fulfillment and refinancing, and Bank of America says the company’s backlog of delinquent home loans has been significantly reduced from its peak levels in 2011.

Bank of America is listed among the five biggest employers in Beachwood. It’s the second-largest bank in the country. In a statement, it says the number of customers needing specialized loans and support has dropped by a third. It is offering severance packages based on years of employment.  The Cleveland Clinic owns the buildings that include the Bank of America offices.  

The Bank of America service center was once the MBNA credit card business owned by former Cleveland Browns’ owner Al Lerner. It employed some 2,000 people.                

After Lerner’s death, his family sold the operation to Bank of America in 2006.  About a year and a half ago, the center’s was credit-card division was converted to handle home-loan refinancing. 

The bank is also closing an office in Independence that employs 55 people and one in Cincinnati that employs about 100.

http://newsroom.bankofamerica.com/companyoverview 

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook



Stories with Recent Comments

Letters from a lost friend: A Beachwood survivor's Holocaust remembrance
What a great story -- and how important it was for both Marlene and her mother to tell it! Thank you.

Akron city council to vote on resolution for hiring ex-offenders
Great as a taxpayer I paid for the police to catch them, the free lawyer, the jail to house them , the food their kids eat the medical for them and all its goin...

5 of 8 rule headed for a vote
this is just another way for kasich to pass the buck and claim that it gives the local districts control. Few schools have enough money because of his cuts. T...

Bill would allow Ohio religious leaders to refuse to do gay marriages
This is just a lot of political posturing. The free exercise clause of the 1st Amendment already protects clergy from being forced by civil authorities to perfo...

Ohio lawmakers want to eliminate background checks, training to carry guns
On the face of this report I don't find the name of the bill or who sponsered it. I will have to google a general bill with this as its content to address it. N...

Ohio lawmaker calls for an investigation into a Dayton women's prison
I was an inmate at DCI and I am so happy that it's being investigated. The staff behavior there is awful unless he/she is your lover. There are more drugs insid...

Ohio's disabled face long waiting list for services
Can we use the Tribble on Disability Care? if so can you send the link to http://voice4thevoiceless.us thank you, Mark J Cleland Sr voice4thevoiceless.us

Treasures rescued from Cleveland's closed Catholic churches
This was found to be a real gift today Good Friday Bless you for your work

Akron mayor says he had reason to fear an "enraged" councilmember
At least we know that York is out sick. Where in the World is Carmen Plusquellic today?

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University