Published on 1st May 2012
“Amid the banking industry's relentless belt-tightening, even Bank of America Corp's moneymakers aren't safe. The Charlotte, NC, company is planning about 2,000 staff cuts in its investment banking, commercial banking and non-US wealth-management units, said people familiar with the situation. Those operations were vastly expanded with Bank of America's 2009 purchase of Merrill Lynch & Co,” says the Wall Street Journal.