Bank of America has announced that it will cut 30,000 jobs “over the next few years,” according to MarketWatch. This major cut in jobs will be particuarly due to the “elimintation of appropriate unified roles.”
Bank of America has two phases planned to get back to where it needs to be.
Phase I requires $5 billion to be saved by 2014. Phase II requires the lender to address business segments not yet dealt with, starting October of this year to March 2012.