Bank of America to Cut Jobs
By: Big 2 News Staff
Updated: September 21, 2012
The Wall Street Journal is reporting Bank of America plans to cut as many as 16,000 jobs by the end of the year as part of a major restructuring plan.
The paper says the cuts are part of a larger strategy that was outlined in a document given to top executives designed to make the bank more efficient.
The Journal says if 16,000 jobs are eliminated, Bank of America would no longer be the largest US banking employer.
The paper reports the cuts would take the bank's total employment to 260,000, the lowest level since 2008.
The Journal says a Bank of America spokesman wouldn't comment on the report.
The paper says the cuts are part of a larger strategy that was outlined in a document given to top executives designed to make the bank more efficient.
The Journal says if 16,000 jobs are eliminated, Bank of America would no longer be the largest US banking employer.
The paper reports the cuts would take the bank's total employment to 260,000, the lowest level since 2008.
The Journal says a Bank of America spokesman wouldn't comment on the report.
