Bank of America Shuttering Print Operation
MALDEN, MA—The Bank of America plans to close its in-plant printing operation here and transfer the work to other states, The Boston Globe reported. The move, which is expected to take place by next spring, will cost 150 jobs. Layoffs are expected to begin in August.
A company spokesman told the newspaper that the Malden plant, which produces customer statements and mailing inserts, was no longer needed due to the trend of online statements and transactions. Printing work will be sent to printing facilities in Delaware, New Jersey and Texas.
The bank has 275 branches in the state of Massachusetts.