Bank of America job cuts
Bank of America plans to cut as many as 16,000 jobs by the end of the year. The move is part of a major restructuring plan according to the Wall Street Journal.
The paper says if 16,000 jobs are eliminated, Bank of America would no longer be the largest U.S. banking employer. The cuts would take the bank's total employment to 260,000, the lowest level since 2008. The Journal says a Bank of America spokesman wouldn't comment on the report.