Bank of America says that it plans to cut 30,000 to 35,000 jobs over the next three years. The reductions reflect it’s upcoming acquisition of Merrill Lynch and the “weak” economy, which the bank said is affecting business activity. The reductions are coming from both companies and affect all lines of business and staff units, Bank of America explained. The bank also said it continues to do business actively with all of its clients and has attracted deposits and new customers. The bank also stressed that it’s still actively offering loans through all of its credit product lines.
D.C.