Continues major overhaul in effort to slim down
(NEWSER) - Job cuts at Bank of America could hit a number much higher than earlier reported —four times higher: Executives are now discussing cutbacks to the tune of 40,000 positions, the Wall Street Journal reports. A final decision isn’t expected until later today. The bank is aiming to trim its workforce as part of what it calls “Project New BAC,” which saw the ouster of two executives this week. The bank, which employed some 288,000 in late June, also hopes sell off much of its mortgage business. More»
