Bank of America announces loss of 56 positions

Mar 31 2011 by David Holmes, Chester Chronicle

THE Bank of America in Chester has announced the loss of 56 full time posts from its credit and underwriting department.

Bank bosses say the restructure is necessary to meet the changing needs of the credit card business which still employs 4,000 staff at Chester Business Park.

The bank continues to recruit in other departments providing the opportunity for those at risk of redundancy to apply for other roles.

Affected employees make decisions on whether to take on new customers based on their credit status while others provide assistance to existing clients to help them manage their arrears.

Spokesman Gary Jenkins said: “We have announced that we are reducing certain functions within our credit and underwriting department by around 56 full time equivalent positions.

“We are no different to any other major employer in that we regularly review our business structures to make sure they are right for our customers and our business priorities.

“The environment in which we operate and the needs of our customers are changing – we have to be responsive to that.”