Arab Today, arab today bank of america to axe 3500 jobs
Last Updated : GMT 22:28:13
Arab Today, arab today
Arab Today, arab today

Bank of America to axe 3,500 jobs

Arab Today, arab today

Arab Today, arab today Bank of America to axe 3,500 jobs

New York - AFP

Bank of America will cut 3,500 jobs this quarter as part of a wider restructuring that could lead to the loss of thousands more jobs, the Wall Street Journal reported Friday. The 3,500 jobs to be slashed will come from all sections of the country\'s biggest bank by assets, and are to be eliminated by the end of September, the newspaper reported, citing unnamed sources familiar with the situation. Some of the employees to be laid off have already been told, it said. Thousands of additional job cuts could come as part of the major restructuring known as \"Project New BAC,\" referring to the ticker symbol of the Charlotte, North Carolina-based bank. The number of cuts is still under discussion, but one source told the Journal that at least 10,000 jobs, or 3.5 percent of the bank\'s work force, could be eliminated. A final decision is expected early next month. Last week, the bank\'s chief executive Brian Moynihan said it was in a better position now than during the financial crisis, as he tried to reassure investors worried about the growing number of lawsuits facing the bank. Bank of America shares are down 47 percent so far this year, the paper said. \"The fundamentals are so much better in our country and in our company and in our industry than they were four years ago,\" Moynihan said in a conference call with analysts. The job cuts will include hundreds of positions in Bank of America\'s investment banking and trading unit, the Journal reported. Some job eliminations could come through attrition or hiring slowdowns and put in place over a three-year period, it added. Several large banks have recently announced major staff cuts, with HSBC slashing 30,000 jobs by 2013 and Britain\'s bailed-out Lloyds bank eliminating 15,000 positions by 2014.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of america to axe 3500 jobs Arab Today, arab today bank of america to axe 3500 jobs

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of america to axe 3500 jobs Arab Today, arab today bank of america to axe 3500 jobs

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday