Bank of America cuts 30,000 jobs

Bank of America says it is cutting 30,000 jobs in the coming years as it looks to slash annual expenses by US$5 billion, but investors were disappointed in the scant new detail the bank provided about its plans. The bank's chief executive, Brian Moynihan, said Bank of America is focusing for now on cutting costs in consumer banking and is taking steps like combining data centers to reach its target. Many of the job cuts will come from attrition [...]

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