Bank of America to close print operation

150 employees to lose jobs at Malden facility; move made as more use online statements

July 07, 2011|By Todd Wallack, Boston Globe Staff

Bank of America Corp., the state’s biggest bank, plans to close a printing operation in Malden (Massachusetts) and shift the work to other states by next spring, eliminating 150 local jobs.

Company spokesman T.J. Crawford said the bank no longer needs the Malden plant, which handles high-speed printing jobs for customer mailings and inserts, as more customers opt for online statements and information.

A Forrester Research study last year found nearly one-quarter of US bank customers relied exclusively on electronic statements.