Bank of America shuts down in Costa Rica, lays off 1,400

Bank of America has announced it was shutting down its operations in Costa Rica, where it employed 1,400 people in a technological unit.

The company yesterday said in a statement the closure of its center in the Central American country would take place over the next nine to 12 months, in order for it to concentrate its activities in other countries.

"As a result of constant reviews (of operations) we will close our technology and operations sites in San Jose de Costa Rica," the bank said in a statement.

The news came just hours after US computer giant Intel announced it was closing part of its operations in the Central American nation, resulting in 1,500 more job cuts.

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