Bank of America laid off about 50 mortgage production employees at its north Tampa offices Wednesday, the latest retraction triggered by a slowdown in home loans nationwide.
"In recent months with rising interest rates, the demand for refinancing has gone down significantly, which has led us unfortunately to this decision today," bank spokeswoman Jumana Bauwens said in a statement. She declined to discuss specifics about the cutback citing bank policy.
The bank employs about 1,300 at two buildings in the Savarese Circle complex near Waters Avenue and Anderson Road.
Many major lenders have been paring back their mortgage units — and shifting workers from originating mortgages to promoting home equity loans — as demand slacked off. Among the largest cuts: JPMorgan Chase eliminated more than 640 mortgage jobs in Tampa in a series of layoffs between June and October.