Bank of America cuts 200 jobs in California

Nearly 200 job cuts have been announced by Bank of America Corp. The layoffs, which impact employees in two Southern California communities, appear to be taking place at the company's correspondent lending unit.

The cities of Thousand Oaks and Agoura Hills have been notified about 190 positions that are being eliminated by next month.

The layoffs are likely tied to BofA's prior announcement that it will wind down its correspondent lending business, though a spokesman wasn't available Friday to confirm this.

Source: Mobile Mortgage News