CHARLOTTE — Bank of America CEO Brian Moynihan, who has struck an upbeat tone on the economy in recent interviews, recently discussed the Charlotte-based bank’s strategy for adjusting its headcount, which it is currently looking to do.
“We don’t lay off people, but we have an ability to reshape our headcount pretty quickly just by the turnover that occurs,” Moynihan said Dec. 6 during the Goldman Sachs 2022 U.S. Financial Services Conference, when speaking about his current approach to managing the bank’s workforce numbers.
The bank had a little more than 213,000 employees as of Sept. 30, a nearly 4,000-person increase compared to the same time a year ago. Moynihan noted at the conference that BofA now has about 215,000 employees, but he said the bank needs to “run that back down.”
Moynihan added that as employees leave BofA voluntarily, the bank moves workers from their current positions and retrains them in those open roles.
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