CHARLOTTE (AP) — Bank of America Corp. is closing its Charlotte Investment Center, meaning that about 80 employees will be out of work.
The Charlotte Observer reports that the bank confirmed the closure on Thursday.
Employees learned about the closing this week. It goes into effect June 30, and some employees will be offered similar work in Jacksonville, Fla.
Merrill Edge is Bank of America’s platform for customers with between $50,000 and $250,000 in investable assets. The Charlotte Investment Center provides customer support for people who use the Merrill Edge self-directed investing platform.
The Charlotte bank is still in the midst of a plan to cut $5 billion in annual costs, an effort that is expected to involve cutting 30,000 positions.