Bank of America is planning to axe nearly 50 jobs at its Legacy Asset Servicing unit in Fort Worth, Texas.
Some of the staff at this unit will be eligible for career transition resources, severance pay and benefits, reported the Dallas Business Journal.
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The bank will finalize job cutting program by 17 November 2014.
Bank of America announced plans to slash nearly 30,000 jobs over the next few years in a bid to save $5bn per year.
As part of this nationwide cost-cutting plan, 840 Bank of America workers have lost their jobs in Dallas, Addison, Plano, Forth Worth and Richardson from mid-2013 to the end of this month.
Last month, the bank agreed to pay $16.65bn to US regulators over its alleged role in the sale of mortgage-backed securities in the run-up to the financial crisis.
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By GlobalDataMark Pipitone, spokesman of Bank of America told the Dallas Business Journal: "In key Bank of America employment centers like Texas, we have the advantage of numerous areas of our business represented. So, while one business may experience a reduction in the sizes of its team, other areas are growing."
