Bank of America May Cut 10,000 Jobs To Recoup Costs

Bank of America plans to lay off 3,500 employees by the end of next month, and potentially even more than 10,000 total, according to The Wall Street Journal and The New York Times. It's the latest installment of the 30,000 to 35,000 layoffs the bank announced in 2008, which were to be staggered over three years. At the time, that meant over 10 percent of the bank's employees.