90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Here and Now with Robin Young
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Monday, September 12, 2011

Bank of America Plans 30,000 Job Cuts

Bank of America's corporate headquarters are shown in Charlotte, N.C. (AP)

Bank of America's corporate headquarters are shown in Charlotte, N.C. (AP)

By: THE ASSOCIATED PRESS

CHARLOTTE, N.C. – Bank of America says it will cut about 30,000 jobs over the next few years in a bid to save $5 billion per year.

The troubled bank says it expects many of the cuts will come through attrition and eliminating unfilled positions.

The company says the number of job cuts isn’t fixed, but that it expects they will total 30,000.

The Charlotte, N.C. bank’s stock has lost 47 percent this year, largely over problems related to poorly-written mortgages it acquired with its 2008 purchase of Countrywide Financial Corp.

The job cuts are part of the first phase of a cost-cutting program the bank calls “Project New BAC.” It hopes to achieve the $5 billion in annual cost savings by 2014.

Guest:


Please follow our community rules when engaging in comment discussion on this site.
  • Bia

    Success in school is all about conforming. Girls are simply better at conforming. Since video games and the internet, in general, came out, kids have stopped having to figure out how to solve their boredom by pondering. Using one’s imagination by using stick as a gun is much more developmental for success in later life than using a video game, imo. Also, boys get drugged more than girl to fix their personalities.

    • http://www.facebook.com/profile.php?id=1568563932 Scott Frye

      Success in school shouldn’t be predicated on video games. Hundreds of years of educational history backs this up. Human nature is the same as it was 300 yrs ago. Try teaching the way it WORKED for so long . We do NOT need yoga balls to do better in school.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

April 15 7 Comments

4 Lamb Recipes, Plus Lamb Cooking Tips

With the weather getting warmer, Here & Now resident chef Kathy Gunst is thinking lamb. She shares recipes for Middle Eastern-style lamb meatballs and more.

April 15 14 Comments

The Problem With U.S. Tax Policies

Tax expert David Cay Johnston says it's easy to fool the IRS, but there's one catch: "you have to be rich." He says outdated tax policies are hurting the economy.

April 14 4 Comments

Lessons For News Media After Marathon Bombings

We take a look at what the news media got wrong and what can be learned for future breaking news coverage.

April 14 8 Comments

Marathon Bombing Survivor Loses Limbs But Finds New Life

A year after Jeff Bauman lost both legs in the bombing, he and his fiancée are expecting their first child.