Bank of America closing Getzville mortgage facility, costing 500 jobs
Bank of America Corp. plans to close its 1,200-job Getzville mortgage facility in the CrossPoint Business Park by May 31, but M&T Bank Corp. will take over the lease and hire at least 600 of the employees to service mortgages that a third-party investor bought from Bank of America, the two banks confirmed Monday.
The closing represents a blow to the Western New York job market, especially in an industry like banking that otherwise has been growing locally. But the impact would be much worse without M&T’s participation. Another 100 employees will remain with Bank of America, leaving a net loss of 500 jobs.