Money & Banking

Bank of America lays off more than 100 employees

PTI New York | Updated on March 15, 2011




Bank of America Corp laid off more than 100 employees in its consumer and small-business banking unit late last week, according to a media report.

“Bank of America Corp eliminated more than 100 jobs in its consumer and small-business banking unit late last week,” The Wall Street Journal reported quoting a spokesperson as saying.

The cuts were spread across the country and represent a small percentage of the division's 95,000 workers, the report added.

According to the publication, the reductions are part of a larger effort to adjust the retail unit amid regulatory curbs on revenue and a push from leadership to cross-sell customers who interact with the retail, corporate and wealth-management parts of the bank.



Published on March 15, 2011

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