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Bank of America ending 30K more jobs
- Staff Philadelphia Business Journal
After days of predictions as to what exactly its downsizing would entail, Bank of America has announced that 30,000 additional jobs will be cut, the Courier-Post reports in an Associated Press story.
Bank of America (NYSE:BAC), the fifth-largest bank in the Philadelphia area based on local deposits, hopes the cuts and other measures will result in $5 billion in annual savings by 2014. The bank has already cut 6,000 jobs this year.
A Bank of America spokesman said the company is not providing a geographic breakdown of job reductions at this time and said was unable to speak to the potential impact in the Philadelphia region.
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