Report: Bank of America to speed job cuts

Report: Bank of America to speed job cuts

THE ASSOCIATED PRESS
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.
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