Bank of America&#39;s Focus on Profit, Job Cuts Irks Politicians
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Bank of America Corp. Chief Executive Officer Kenneth Lewis is running afoul of Massachusetts politicians as he slashes jobs to increase earnings following his $48 billion purchase of FleetBoston Financial Corp.
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Bank of America Corp. employees volunteered 650,000 hours last year building homes for the poor, cleaning coastlines, and doing other charitable work, and the bank is eager to tell people about it. So eager, in fact, that it puts that number in glossy brochures and alerts local news media when its employees collect toys or fix homes for charity.
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Bank of America Corp  and  Wachovia Corp , the second- and fourth-largest U.S.  banks, on Tuesday said quarterly profits were nearly wiped out  by more than $10 billion of credit losses and write-downs.
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Bank of America will begin this month to cut 4,500 jobs across the company, predominantly in non-customer-facing positions. Bank of America said the cuts will spell $150 million in severance
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Bank of America sees quarterly profits slump 32%, harmed by credit losses and an investment banking slowdown.
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Bank of America Corp., which operates 25 branches in San Antonio, plans to cut about 2.5 percent, or 4,500 jobs, from its work force.
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Bank of America said Thursday it will cut about 4,500 jobs, or about 2.5 percent of its work force, beginning this month as a result of its merger with FleetBoston Financial Corp.
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Bank of America plans to cut about 150 city jobs as it trims its overall staff by 4,500, people familiar with the situation said. The cuts at the bank, which already said it would slash 12,500
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Bank of America Corp.&#39;s top executive will be in Boston this week to counter critics who claim the bank has broken job commitments it made during its acquisition of FleetBoston Financial.
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BOSTON -- Bank of America chief executive Ken Lewis will continue meeting with local officials this week who question whether the bank broke commitments by ordering job cuts in its acquisition of FleetBoston.
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The Bank of America Corporation said yesterday that it would cut an additional 4,500 jobs from its ranks, beginning this month, as it simplifies operations.
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CHARLOTTE, NC Oct. 7, 2004 - Bank of America Corp. said Thursday that it plans to cut about 2.5 percent of its work force, eliminating about 4,500 jobs as part of a restructuring following its acquisition of FleetBoston Financial Corp.
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Bank of America reported quarterly results Tuesday that fell short of Wall Street expectations, hurt by a mortgage-related writedown worth more than $5 billion.
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Bank of America Corp said on Tuesday quarterly profit sank 95 percent, hurt by more than $7 billion of losses tied to write-downs, poor trading decisions and mounting credit woes.
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Bank of America Corp. (BAC.N: Quote, Profile, Research) , plans on Wednesday to lay off hundreds of tellers and other employees at Fleet bank branches, and ask them to leave immediately, the Boston Globe said on Wednesday, citing ...
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Bank of America Corp. chief executive Kenneth D. Lewis, under pressure to explain recent job cuts made following the bank's $48 billion acquisition of FleetBoston Financial Corp. , yesterday said he will move one of the bank's four main divisions to Boston.
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Several bank credit card companies, responding to growing pressure from U.S. lawmakers, said on Wednesday they are working to do a better job of explaining fees and charges to consumers.