Thread regarding Bank of America layoffs

Bank of America to Lay Off 120 at Simi Valley Loan Center

Bank of America is laying off more than 120 employees from its home loan department in Simi Valley effective later this year.

The financial institution said the layoffs will occur in two phases – May 13 and Nov. 7 as it consolidates and reduces staff at 450 American St., according to the Worker Adjustment and Retraining Notification filed with the state Employment Development Department.

“As a result of this decision, approximately 124 employees have been impacted,” the notification stated. “Eligible employees are offered career transition resources as well as severance pay and benefits.”

Bank of America inherited the American Street center when it bought defunct mortgage lender Countrywide Financial Services of Calabasas in 2008. The bank later sold the property to Rising Realty Partners, who in turn sold it and a second building in Simi Valley to Griffin Capital Essential Asset REIT II Inc. Both buildings owned by Griffin are leased to Bank of America through 2020.

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Post ID: @YoUUIkL

5 replies (most recent on top)

BofA has been closing down these legacy Countrywide buildings for years. Why pay higher salaries in CA when the bank has hub offices in less costly markets.

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Post ID: @YoUUIkL-8wtd

There are still 2 buildings in Simi, Tapo and American St., Tapo won't be there for much longer. I also hear the building in TO will be gone too, only American Street and Westlake will be left.

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Post ID: @YoUUIkL-8oja

I thought all the Simi Valley buildings were gone. Also, there is still 1 building still standing in Westlake Village

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Post ID: @YoUUIkL-7uyg

too many!

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Post ID: @YoUUIkL-2pbf

How many people still work at that location?

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Post ID: @YoUUIkL-1hii

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