Bank of America Cutbacks

[Mimi]

Bank of America plans to cut about 30,000 jobs

Bank of America is to cut 30,000 jobs over the next few years as part of a cost-cutting programme.

The cuts represent about 10% of the company's workforce.

Bank of America wants to save about $5bn (£3.2bn) a year as it slims down the bank that was hit hard by the sub-prime mortgage crisis.

http://www.bbc.co.uk/news/business-14889446