BANK OF AMERICA PLANS TO CUT 30,000+ JOBS OVER NEXT 3 YEARS AFTER MERRILL LYNCH PURCHASE - New York Post

BANK OF AMERICA PLANS TO CUT 30,000+ JOBS OVER NEXT 3 YEARS AFTER MERRILL LYNCH PURCHASE - New York Post: “Bank of America said yesterday it plans to eliminate 30,000 to 35,000 jobs over three years after it completes its purchase of Merrill Lynch.

The cuts could affect about 11 percent of the combined companies' roughly 308,000-person work force. BofA employs about 247,000 people and Merrill about 61,000.

BofA said the expected cuts reflect the pending merger, as well as "the weak economic environment, which is affecting the level of business activity."”