Bank of America executives are mulling a restructuring plan that would lop off as many as 40,000 jobs in its first phase, according to a Wall Street Journal report citing sources familiar with the discussions.

While the total number of job cuts are not final and could change, the report said the massive restructuring program would take several years to complete and would exceed the bank’s 2008 overhaul in which between 30,000 and 35,000 employees were pink-slipped over a three-year span.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access