Bank Of America To Cut 16,000 Jobs: Report

[Spartan]

NEW YORK: Bank of America plans to cut 16,000 jobs by year-end in a major restructuring that would end its title as the biggest US banking industry's largest employer, The [url="http://timesofindia.indiatimes.com/topic/Wall-Street-Journal"]Wall Street Journal[/url] reported on Thursday.

The cuts will take the banking giant's total employment to 260,000, the Journal said, the lowest level since 2008, when the bank acquired failing mortgage lender Countrywide Financial and the [url="http://timesofindia.indiatimes.com/topic/Merrill-Lynch"]Merrill Lynch[/url] investment bank.

The cuts, outlined in a document given to top executives, are part of a larger strategy by chief executive Brian Moynihan -- who took over in 2010 -- to make the bank more efficient and reduce its exposure to risk, the Journal said.

Most of the cuts are expected to come from the consumer banking division, as the bank plans to close 200 branches, in addition to 178 shut down in 2011, the newspaper said, citing an individual familiar with the document.

A spokeswoman for the bank refused to comment on the report.

The restructuring plan has already seen Bank of America shed several international credit card units, insurance units and other holdings, dropping its total assets by seven percent to some $2.16 trillion, the Journal said.

[tom bhayya]

consumer banking divison antey thellolla job ley malla [color=#282828][font=helvetica, arial, sans-serif][img]http://www.andhrafriends.com/uploads/gallery/album_13/gallery_24383_13_123829.gif[/img][/font][/color][color=#282828][font=helvetica, arial, sans-serif] [/font][/color]

[ghazni]

[quote name='Alexander' timestamp='1348165900' post='1302510606']
consumer banking divison antey thellolla job ley malla [color=#282828][font=helvetica, arial, sans-serif][img]http://www.andhrafriends.com/uploads/gallery/album_13/gallery_24383_13_123829.gif[/img][/font][/color][color=#282828][font=helvetica, arial, sans-serif] [/font][/color]
[/quote]

vala jobs poye koddi mana jobs mida padtaru.........

[anbe__shivam]

get ready...inka[img]http://i41.tinypic.com/1y7di1.gif[/img]

[horizontallycut]

malli start [img]http://www.desigifs.com/sites/default/files/PK-1_1.gif?1344496355[/img]

[BenzCircle]

[quote name='Alexander' timestamp='1348165900' post='1302510606']
consumer banking divison antey thellolla job ley malla [color=#282828][font=helvetica, arial, sans-serif][img]http://www.andhrafriends.com/uploads/gallery/album_13/gallery_24383_13_123829.gif[/img][/font][/color][color=#282828][font=helvetica, arial, sans-serif] [/font][/color]
[/quote]
effect mana medha kooda vuntadhi...

[tom bhayya]

[quote name='ghazni' timestamp='1348165963' post='1302510614']
vala jobs poye koddi mana jobs mida padtaru.........
[/quote]
valla jobs pothey ney economy ki problem mana meedha edchina parledhu kaani economy padithey ney andhariki problem...

[KadapaKingg]

Bank managers tellers anta out... papam..

[cherlapalli_jailer]

start ayyinda?

deenamma

kasta kuduta paddamu ane sariki

SANI .........baaavaa anukuntu vachi bujam meeda cheyya vestunnadu kada
[img]http://www.desigifs.com/sites/default/files/samantha.gif?1337104081[/img]

[Betting Bangarraju]

Jan' 2013 recession confirmed. Last week ila chebithe kondaru kamedy chesaru. Cisco, Walmart, ..etc already jobs cut chesaru. No Doubt if congress is not taking serious decission, recission is confirmed.

[jamesbond]

ee america bathuku inte [img]http://www.desigifs.com/sites/default/files/brahmam3.gif?1290189912[/img]

[critique]

no bubbling no holing still cutting y re

[Maximus]

[img]http://lh4.ggpht.com/_9JDo24Z5ZMw/TVPyOwf1nHI/AAAAAAAAA6A/SxSBJNWJ3aQ/s400/keka%20puttinchav%20ga.png[/img]

[Sastrygaru]

[img]http://lh6.ggpht.com/_KVkPY2XIbRQ/TX42nRNOdAI/AAAAAAAABUY/ZKXeQkpEuPo/brahmi%20vammo.gif[/img]

[Jatka Bandi]

chitnaidu i have a question.....