Wednesday, January 21, 2009

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Bank of America to announce 4,000 layoffs

Bank of America is getting ready to announce its next round of layoffs. According to the Financial Times, the bank is going to cut up to 4,000 employees. The layoffs will come from the capital markets business, which was recently merged with Merrill Lynch. Over the next three years, Bank of America is expected to cut about 35,000 jobs as a result of the Merrill Lynch merger. Officials have not said when the latest round of cuts will take place.


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