Bank Of America Planning To Cut 16,000 Jobs By Year End

(Reuters) - Bank of America Corp is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues, the Wall Street Journal reported on Wednesday.

The job cuts would put the second-largest U.S. bank a year ahead of schedule in eliminating 30,000 jobs under a program called Project New BAC. The

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