|A Bank of America customer uses an ATM machine at a branch in Greenville, S.C. in this January 2012 file photo. Bank of America will reportedly speed up its plan to cut 16,000 jobs before Christmas,|
A published report says Bank of America is accelerating a cost-cutting plan and aims to eliminate 16,000 jobs by the end of the year.
The cuts are part of a previously announced plan by the bank to cut 30,000 jobs.
The Wall Street Journal cites a document given to top management at the bank. The newspaper says the cuts will mean fewerBank of America branches and a smaller mortgage operation.
A bank spokesman declined comment on the Journal report Thursday. (csmonitor)