Bank of America to Cut 4,500 More Jobs
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Bank of America Corp. BAC.N on  Thursday said it would increase the number of jobs it will cut  by 36 percent to 17,000 after its acquisition of FleetBoston  Financial as it simplifies operations.
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Charlotte-based Bank of America Corp. will slash 4,500 positions from its work force, or about 2.5% of its payroll. The company expects to incur charges of $150 million over three quarters, beginning in the third quarter, from severance payments.
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The investment bank said BNC Mortgage will be combined with Aurora Loan Services into a single residential mortgage business, cutting 400 jobs.
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Cell phone maker Motorola Inc. said Wednesday it will cut another 4,000 jobs as part of a plan aimed at improving sagging financial and operational results.
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That was the verdict of Massachusetts lawmakers yesterday after BofA announced a fresh wave of 4,500 job cuts, including an estimated 140 in the Bay State.
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Bank of America Corp., which operates 25 branches in the Houston area, plans to cut about 2.5 percent, or 4,500 jobs, from its work force.
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Bank of America Corp. has said it&#39;s bringing more jobs to the New York area. But first, some existing employees apparently will be tossed overboard.
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CHARLOTTE, NC - Bank of America said Thursday it will cut about 4,500 jobs beginning this month as a result of its merger with FleetBoston Financial Corp.
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Employers sliced payrolls by 4,000 in August, the first drop in four years, a stark sign that a painful credit crunch that has unnerved Wall Street is putting a strain on the national economy.
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JPMorgan Chase &amp; Co. says it will rehire 4,000 workers whose jobs it had outsourced to IBM, bucking a corporate trend in information technology.
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The company said the move was part of its ongoing integration of FleetBoston Financial, which it bought last year. Bank of America, the largest retail bank in the US, said the cuts would not violate any job
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Bank of America Corp., which employs about 700 people in the Nashville area, plans to cut about 2.5 percent, or 4,500 jobs, from its work force nationally.
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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Bank of America Corp. (BAC.N: Quote, Profile, Research) on Thursday said it would increase the number of jobs it will cut by 36 percent to 17,000 after its acquisition of FleetBoston Financial as it simplifies operations.
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The cellphone-network equipment maker said that it would cut up to 4,000 jobs, about 5.4 percent of its work force, after profit plunged 42 percent in the fourth quarter.
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The layoffs are a result of Bank America&#39;s merger with FleetBoston Financial Corporation.
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BOSTON -- Bank of America, which was sharply criticized after it cut jobs at former Fleet branches here, said Friday it plans to move an additional 300 jobs from its Wealth &amp; Investment Management businesses to Boston.