The News Courier in Athens, Alabama

January 9, 2014

BBVA Compass cutting up to 450 jobs in Birmingham

Associated Press

— BIRMINGHAM, Ala. (AP) — BBVA Compass is eliminating as many as 450 jobs in Birmingham as it switches to contractors for some operations.

The changes will result from outsourcing over the next two years.

The president of BBVA Compass in Birmingham, Alan Register, says the company is eliminating as many as 600 jobs nationally. He says Birmingham will feel the brunt of the cuts because the area is home to a pair of operations centers.

The loss of 450 positions would equal about 15 percent of the company's current workforce of 3,100 people in the metro area.

Compass has hired Accenture and Xerox to take over some functions. Those operations will likely include some mortgage servicing, banking processing and loan operations.