Bank of America is switching property managers and moving a large number of in-house real estate employees to outside firms.
B of A confirmed Wednesday that JLL and CB Richard Ellis have replaced Lincoln Harris as manager of the Charlotte, N.C., banking company's buildings. In a related move, Bank of America will transition a majority of "a couple hundred" employees to jobs at JLL and CB Richard Ellis, a spokeswoman said.
B of A will assist those who don't find other opportunities, the spokeswoman said, without confirming or denying that there would be layoffs.
The latest move is designed to help B of A reach a goal of becoming a simpler, more efficient company, the spokeswoman said.
JLL will manage B of A's buildings in the Southeast, including its Charlotte headquarters. The firm already manages buildings for Bank of America in the western United States, Canada and India. CB Richard Ellis already manages properties in the Northeast, along with global data centers.
