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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.

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  • 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.

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