Bank of America may cut 35,000 jobs
12-12-2008
A man walks near a Bank of America branch in New York's Times Square. Photo: Reuters.
Bank of America Corporation says it plans to eliminate up to 35,000 jobs over three years, after it completes its purchase of Merrill Lynch. The cuts could affect about 11 percent of the combined companies 308,000 workforce. Bank of America employs about 247,000 people and Merrill about 61,000. It says the expected cuts reflect the pending merger, as well as the weak economic environment, Cuts will come from both companies.
