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More cuts at Bank of America


More cuts at Bank of America


Bank of America has announced plans to slash as many as 35,000 jobs over the next three years as it wraps up its takeover of Merrill Lynch. The bank said the move – which is intended to save 5.25 billion euros – is not just because of the merger but also reflects “the weak economic environment.” Currently Bank of America and Merrill Lynch employ 308,000 people the cuts will reduce that workforce by about 11 percent.

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