BBVA Compass to cut around 600 jobs in Alabama - WBRC FOX6 News - Birmingham, AL

BBVA Compass to cut around 600 jobs in Alabama

BIRMINGHAM, AL (WSFA) -

BBVA Compass announced Wednesday that is will cut between 400 and 600 jobs from its payroll over the next two years as it looks to "pursue outsourcing options" in regards to its back-office banking and real estate lending operations.

Bank spokesman Ralph Evans says approximately 75 percent of the cuts will come from the Birmingham area. The bank employees approximately 3,900 people in Alabama with more than 3,100 of them being in the Birmingham region.

Evans said the bank will try to transition affected employees to different jobs at the bank or, if that's not possible, offer to help with finding new employment somewhere else.

Even with the cuts, Evans says Birmingham will remain a hub for the company and will continue to be the home to nearly 25 percent of the bank's workforce.

A review of job functions, workflow and processes will begin next month and will continue over the next two years, Evans said.

BBVA Compass has 688 branches in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.

Copyright 2014 WSFA 12 News.  All rights reserved.

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