In effort to cut costs, Bank of America may sell most of its offices, including its large office campus in Hopewell.
The only buildings that would be kept would be the headquarters in North Carolina and New York City, according to a report by Bloomberg.
But if the company sells buildings, it would lease back space for operations, in an effort to avoid impact on employees, the company said in a statement provided by spokeswoman Kelli Raulerson.
The bank owned or leased about 120 million square feet in 26,910 locations at the end of 2010, mostly in the U.S., according to its most recent annual report.
Chief Executive Officer Brian T. Moynihan, who is looking to trim as much as $8 billion in annual expenses, is evaluating the bank’s real estate needs as he eliminates at least 30,000 positions.
