Bank of America job cuts
Job cuts are on the way for the biggest bank in the U.S.
The Wall Street Journal and the New York Times say Bank of America is cutting 3,500 jobs this quarter and working on restructuring plans that will axe several thousand more.
Friday’s reports say the job cuts might exceed 10,000 or about 3.5% of its current work force.
BofA was hard hit by the housing bubble burst.
Its share price has fallen nearly 50% so far this year.
