Bank of America to accelerate job cuts,16,000 face axe

The cuts are part of a previously announced plan by the bank to cut 30,000 jobs.

Written by Agencies | New York | Published:September 20, 2012 10:59 pm

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.

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