Bank of America to Cut 30,000 Jobs As Part of $5 Billion Reductions
On Monday, Bank of America announced that part of its plan to cut $5 billion in spending by 2014 includes the elimination of 30,000 jobs. CEO Brian Moynihan made no mention of layoffs during an investor conference, and the bank says it expects the job losses to occur naturally through attrition and not rehiring when people vacate their positions.