The Bank of America in Rancho Cordova is laying off 60 of its 700 workers. Employees at the branch on White Rock learned of the lay offs Wednesday morning. The cuts will affect those who process loans. The positions are being transferred to St. Louis, Missouri and Columbia, South Carolina. Kathie Sowa, a representative of Bank of America says, “As you can imagine, loan demand is down, given the economy”. The layoffs will take effect at the end of the month and the employees will receive severance packages.