Bank of America's Couper to retire after 40 years

Jin Lee/Bloomberg via Getty Images(NEW YORK) — It may not be a happy holiday holiday season for thousands of Bank of America employees. The bank could be cutting 16,000 jobs by the end of December, accelerating the

(Reuters) – Bank of America Corp is planning to cut 16000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues, the Wall Street Journal reported on Wednesday. The job cuts would

The Wall Street Journal points out that these cuts will drop Bank of America from its position as the U.S. bank with the most employees. After the layoffs, the bank will have an estimated 260,000 employees – less than J.P.

Last September, Bank of America announced a cost-cutting plan that would include reducing 30,000 jobs, the biggest layoff announcement last year by a company, according to outplacement firm Challenger Gray & Christmas. "As the decisions are

Bank of America Corp. is accelerating a broad cost-cutting plan and has set a target of shedding 16,000 jobs by year's end—cuts that would see the company relinquish its title as U.S. banking's largest employer. Bank of America is accelerating a broad