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Bank of America to lay off 30,000 jobs in major cut
Bank of America plans to shed about 30,000 positions over the next few years as part of a drive to save roughly 5 billion annually by 2014. The move targets the consumer business, follows a 6,000 job cut this year, and aims to restore investor confidence amid housing bust losses and heavy mortgage-related liabilities.
MENTIONED IN THIS ARTICLE
New York
Bank of America
U.S
Brian Moynihan
Charlotte, N.C
Bert Ely
Palo Alto
Calif
Moynihan
Ken Lewis
Merrill Lynch
Lewis
Countrywide Financial Corp
Wall Street
Brian
Nancy Bush
SNL Financial
Sallie Krawcheck
Joe Price
David Darnell
Tom Montag
Jpmorgan Chase & Co
Walter Todd
Greenwood Capital
Challenger, Gray & Christmas Inc
Merck & Co
Postal Service
General Motors Co