Bank of America is to cut 12,500 jobs as a result of its $48 billion purchase of FleetBoston. Chief Executive Kenneth Lewis is aiming at total savings of $1.6 billion from the merger. The cuts will take place over the next two years, and about 30 percent of them will come through attrition, the bank says. Charlotte, North Carolina-based Bank of America on April 1 completed its purchase of Fleet. The purchase created the third largest US bank, after Citigroup and J.P. Morgan Chase, once the latter buys Bank One
Bank Of America To Shed 12,500 Jobs In Wake Of FleetBoston Acquisition
Bank of America is to cut 12,500 jobs as a result of its $48 billion purchase of FleetBoston. Chief Executive Kenneth Lewis is aiming at total savings of $1.6 billion from the merger. The cuts will take place over the
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