Bank of America to lay off 469 in Newark office

nj.com ^ | April 03, 2013 | Tom De Poto and Ed Beeson

[FreeAtlanta]

Bank of America said today it’s cutting 469 jobs from its mortgage servicing center in Newark as the number of homeowners delinquent on mortgage payments dwindles.

Employees at the offices on the corner of Market Street and University Avenue were given the news last week.

“We previously announced intentions to reduce the size of our mortgage servicing operations in line with the successful reduction of our portfolio of delinquent mortgage customers,” the bank said in an e-mailed statement last night. “Compared to peak levels in 2011, today we have fewer than half the number of customers who need the specialized programs and support of this team.”...

[FreeAtlanta]

I shed no tears for the Bank of Illegal Americans, but I am sorry for any non-Obama voters who loose their employment in this Obamanomics economic malaise.

[9YearLurker]

I doubt there are a whole heck of a lot of non-Obama workers there in their Newark office.

[AppyPappy]

That’s in the ObamaNation.

[cicero2k]

I bet Wells Fargo is hiring.