September 21, 2024
Business

Bank cuts affect jobs in Belfast operation

BELFAST – Bank of America’s move to eliminate a credit analysis department in the former MBNA has affected jobs in the company’s Belfast operations center.

Bank of America closed on its $35 billion purchase of the stand-alone credit-card lender MBNA on Jan. 1. Company officials said last June when the takeover was announced that some 6,000 jobs would be cut across both MBNA and Bank of America operations.

According to news reports in Delaware, Bank of America is eliminating much of MBNA’s “credit acquisition” department, in which staff reviewed higher-risk credit card applicants to determine interest rates and other conditions.

Bank of America relies on a more rigid analysis of such customers, so the work can be done with a smaller staff. An undisclosed number of credit acquisition jobs were cut in the former MBNA offices in Wilmington, Del., last week.

About 30 jobs are believed to have been cut in Bank of America – formerly MBNA’s – operations center in Belfast.

Bank spokeswoman Carolyn Marsh would not comment on the number of employees affected, but said Tuesday the company is “committed to maintaining our operations in Belfast.”

About 1,700 are employed at the Belfast office campus. Last month, Bank of America closed offices in Fort Kent, Presque Isle, Farmington and Portland. Part-time operations were retained in Orono and Brunswick.

“As at any Bank of America site, there will always be some fluctuations in the employment level,” Marsh said. “Some positions will be added and some will be lost as we grow operations in some areas and make operations in other areas more efficient.”

The bank is expected to begin replacing the MBNA signs at the Belfast office campus with Bank of America signs in the coming weeks. Despite the job cuts in Belfast, a sign seeking applicants for other positions is posted at the driveway leading to the company’s offices at the intersection of U.S. Route 1 and Route 52 in Belfast.


Have feedback? Want to know more? Send us ideas for follow-up stories.

comments for this post are closed

You may also like