Bank of America cuts 450 jobs in Concord, California


Bank of America handed out hundreds of lay-off notices Wednesday to employees in Concord.

Roughly 450 positions were eliminated, most in a customer service center and in the bank's fraud and claims units.

Bank of America says those units will be closing in late May and the job cuts are intended to consolidate operations and reduce costs.

All employees can apply for other available bank jobs or may be eligible for severance pay.

Source: ABC Local