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Banks cut jobs here, elsewhere: Bank of America and Wachovia don't specify number of local losses.

Richmond Times-Dispatch (Richmond, VA)

Byline: Carol Hazard

Oct. 26--Two Charlotte, N.C.-based banks -- major employers in the Richmond area -- are cutting jobs here and elsewhere.

Bank of America said yesterday it is getting out of the home mortgage wholesale business and cutting 700 jobs as a result, including an unspecified number in the Richmond area. The wholesale mortgage business involves selling mortgages to individual brokers.

Meantime, Wachovia Corp. said it will eliminate 200 jobs in its corporate and investment unit. It is unknown how many of the cuts will be in Richmond.

Bank of America operates a loan fulfillment center here that employs several hundred people, …

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