Fewer people are refinancing and there are fewer delinquent loans, so Bank of America is cutting its workforce.

Yesterday, 110 workers were laid off in the bank's Rancho Cordova mortgage operation as part of a nationwide cutback. 

These latest layoffs come on the heels of 57 people being laid off from the Rancho Cordova office in April. 

A report in the Wall Street Journal says there are plans to eliminate another three-thousand jobs by the end of the year.