CHARLOTTE, N.C.–Bank of America indicated it may eliminate as many as 8,000 jobs as an increasing number of consumers turn to digital banking options.
The bank said it sees a reduced need for back office staff and for tellers. On the flip side, BofA indicated it will be adding sales staff — including mortgage loan officers, small business bankers and personal investment advisers — as part of its strategy for improving revenues.
Even so, the overall headcount is expected to decline by several thousand as the number of consumers who visit branches falls steadily. The bank is expected to make the reductions via attrition rather than layoffs.