Published Sep 20, 2012 10:34AM MDT
New York • A published report says Bank of America is accelerating a cost-cutting plan and aims to eliminate 16,000 jobs by the end of the year. The cuts are part of a previously announced plan by the bank to cut 30,000 jobs. The Wall Street Journal cites a document given to top management at the bank. The newspaper says the cuts will mean fewer Bank of America branches and a smaller mortgage operation. A bank spokesman declined comment on the Journal report Thursday.