Bank of America Corp. chief executive Brian Moynihan's heavily anticipated speech Monday fell short of the hype, but it was enough to ease tensions.
Investors and analysts wanted concrete signs that the CEO has a winning plan to move past the bank's deep losses and heavy legal problems involving bad home loans. Moynihan provided more specifics about what many had viewed as frustratingly vague cost-cutting plans — and the bank bookended his speech by announcing that it would lay off 30,000 employees from its retail banking operations over the next few years.
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