Dec
14

Local Market Can Handle Blow of BofA Layoffs

By
– GlobeSt.com

Despite Bank of America Corp.’s announced 30,000 to 35,000 layoffs over the next three years, local brokers say the Charlotte office market will remain resilient, even if the company scales back its space in the market’s CBD. News of the reduction in staff came Thursday when Bank of America issued a statement explaining that the planned layoffs are a result of the merger with New York-based Merrill Lynch and a reflection the current recessionary environment.

Bank of America Corporate Center, located at 100 N Tryon St. in Downtown Charlotte, is 60 stories tall with 1.2 million square feet of rentable space. The bank owns the building and occupies approximately 50% of that structure’s space, as well as 6,100 retail banking offices throughout the country.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.globest.com/news/1306_1306/charlotte/175774-1.html?st=rss
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