Bank of America said Friday it plans to hire 10,000 people from low- and moderate-income neighborhoods into largely entry-level positions at its branches and call centers.
The Charlotte-based bank said it will hire the workers into jobs as they come open, over a five-year nationwide initiative within its consumer and small-business division. Charlotte will be included in the effort, although the bank said it was too early to disclose hiring figures by market.
It's the latest large-scale hiring project at the second-largest U.S. bank by assets, which also has cut tens of thousands of jobs since CEO Brian Moynihan took over in 2010.
In February, Bank of America announced plans to hire more than 5,400 people as part of an effort to open more than 500 branches nationwide and refurbish older locations. In 2014, the bank announced plans to hire 10,000 veterans, a goal it has continued to work toward meeting.
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Friday's announcement is part of the bank's efforts to support economic mobility in communities it serves, it said.
In a statement, Dean Athanasia, president and co-head of consumer and small-business banking, said hiring from communities where the bank does business also helps it build local customer relationships.
"By hiring from the communities we serve and helping our teammates develop their careers at the bank, we are helping our clients — and employees — lead better financial lives," Athanasia said.
People who accept a position will receive training through Bank of America's training and career development program, The Academy, the bank said.
As the bank has unveiled such hiring projects, it's also dramatically cut its overall employment under Moynihan, who has trimmed branches and shed businesses and other operations to streamline the bank in the wake of the financial crisis.
Bank of America employed 284,000 across the company in late 2009, just before Moynihan became chief executive.
By the end of this past March, the bank said it had about 208,000 employees — a decline of 76,000 jobs.
Bank of America has said its Charlotte-area employed remains steady at about 15,000. Wells Fargo, which is based in San Francisco, employs about 25,100 in the Charlotte region, its largest employment hub.