NEW YORK — Bank of America is considering cutting at least 10 percent of its workforce as part of a massive restructuring, according to published reports.
The Wall Street Journal said that officials at the Charlotte, N.C., bank have discussed cutting 40,000 employees, or 14 percent of its 288,000 total staff. Bloomberg put the job cuts at about 10 percent. They each cited people who were not identified by name.
A spokesman for Bank of America wasn’t available to comment Friday.
Bank of America Corp. has already cut at least 6,000 jobs this year as part of its reorganization under chief executive Brian Moynihan, who has been in the top spot since last year. Moynihan earlier this week unveiled a shakeup in the bank’s management ranks, announcing that two key officers will leave and the promotion of two others to share the chief operating officer role. The Associated Press
