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.
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