Report: Bank of America to speed job cuts
NEW YORK (AP) — 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.
This article was provided by The Associated Press. (Copyright 2012 by The Associated Press. All Rights Reserved.)