Bank of Boston Corp. said Friday it plans to shut 15% of its BankBoston and BayBank offices in Massachusetts by midyear as part of a previously announced plan to cut costs.

The closing of 65 branches will dislocate 400 employees, but they may be able to move to other positions, the $62.3 billion-asset banking company said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.