Bank of America cuts 3,000 jobs
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Bank of America Corp  on  Wednesday said it planned to eliminate 3,000 jobs, and shook up  its corporate and investment bank after a dismal quarter at  that unit led to a 32 percent drop in overall profit.
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Bank of America Corp. (BAC.N), 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 documents it obtained and Fleet branch managers.
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Hundreds of branch employees at Fleet Bank, one of the largest banks in Philadelphia and now part of Bank of America, are being laid off Wednesday across the Northeast.
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CHARLOTTE, NC Bank of America says it&#39;s cutting about 45-hundred jobs beginning this month as a result of its merger with FleetBoston Financial.
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Bank of America Corp.  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 banking giant said it was scaling back its investment banking operations and shedding an additional 650 jobs.
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Bank of America Corp. said yesterday it will slash 3,000 jobs from its workforce of nearly 200,000 and move its top Boston executive to New York to take over the company's troubled investment banking unit.
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About 1,000 employees at Fleet branches across the Northeast got the ax yesterday - and thousands more job cuts are on the way as new owner Bank of America Corp. aims to hit its goal of reducing total employment by 12,500.
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Bank of America Corp. BAC.N will cut  an additional 4,500 jobs from its ranks, increasing the number  of jobs lost since its FleetBoston Financial acquisition by 36  percent to 17,000.
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Bank of America Corp. laid off an unspecified number of employees Wednesday at hundreds of Fleet Bank branches, a byproduct of the merger of the two banks, a company spokeswoman said.
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STAFF WRITER; Staff writers Alan J. Wax and Regina Marie Glick contributed to this story. As Bank of America pushes ahead with its takeover of Fleet Bank, about 1,000 jobs were cut companywide yesterday throughout the Northeast, ...
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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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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 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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Sallie Mae, the giant student loan company, yesterday said it would lay off about 3 percent of its workforce to cut costs in the face of shrinking federal subsidies and other financial pressures.
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Bank of America said Thursday that it would cut an additional 4,500 jobs from its work force, increasing the number pared since its acquisition of FleetBoston Financial by 36 percent, to 17,000.
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Bank of America Corp  said it will lay off about 2,500 workers in Illinois and 1,500 in Michigan over the next two years in connection with its $21 billion purchase of LaSalle Bank Corp from Dutch bank ABN AMRO Holding NV .