Bank of America said Monday that it would slash about 30,000 jobs, a little more than 10 percent of its workforce, over the next few years in an effort to streamline the nation's largest bank. The firm also plans to trim $5 billion in costs by 2014.
"We don't have to be the biggest company out there, we have to be the best," chief executive Brian Moynihan said Monday during a speech at an investor's conference in New York. "We can get out of things we don't need to do, make the company leaner, more straightforward, more drive,." he said, according to a Bloomberg report.
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Steven Mufson 13 Sep, 2011
Steven Mufson --
Source: http://feeds.washingtonpost.com/click.phdo?i=75718c0a2aca930ed88ed42deaa2f805
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