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Bank of America May Cut 40,000 Jobs
FOX 11 News video report.
Updated: Monday, 12 Sep 2011, 8:14 AM PDT
Published : Monday, 12 Sep 2011, 8:14 AM PDT
Upland - Financial giant Bank of America could slash as many as 40,000 jobs or about 10 percent of its workforce. According to Executive Officer Brian Moynihan, they are looking to reduce annual expenses by $5 billion by 2013 through its cost-cutting initiative.
The cuts would likely be especially deep and hard hitting here in California. Rick Lozano was in Upland and has more in this video report.
Watch the video report in the media player.
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