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Bank of America to speed job cuts, report says

12:39 PM, Sep 20, 2012   |    comments
Bank of America headquarters. (By Chuck Burton, AP file)
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NEW YORK (AP) - 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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

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