Bank of America plans to lay off 53 employees in its Jericho office that focuses on delinquent mortgages, a spokeswoman confirmed Monday. The layoffs are slated for May 13, according to a state regulatory notice posted Friday.
The spokeswoman could not confirm how many employees would remain in the Jericho office of the Charlotte, North Carolina-based banking giant. She said in a statement that some of them might be able to transfer to other divisions. But she couldn't say how many would be able to remain with Bank of America.
"The employees impacted by the changes in our business are eligible for and encouraged to apply for open positions at the bank, and we currently have 400 positions across the bank open in New York today," the statement said.
The layoffs come after a substantial drop in the bank's delinquent-mortgage portfolio, which fell to 189,000 loans at the end of last year's fourth quarter, from a peak of 1.4 million in January 2011, the spokeswoman said.
"With fewer mortgage customers experiencing delinquency and no longer needing the specialized services and programs we have built, we continue to reduce the size of these operations," she said.
The state Worker Adjustment and Retraining Notification Act requires employers with at least 50 full-time workers to file a 90-day notice of a major layoff or closing.