Bank of America to cut up to 10% of its branches


Bank of America's CEO, Ken Lewis, has been framing plans to close as many as 10% of its branches, not just a cost-saving method, but one that's time has been coming since so many of its customers are using mobile and online banking these days.

Interesting point and probably true. Still, its timing is lousy. While a bank has to do what it has to do, it's sad to see yet another business plotting to kill jobs during a flagging economy. Bank of America has 6,100 branches, and so if it cut as much as 10% of its branches (an exact figure hasn't been determined), that's a lot of full-time and part-time positions lost.