Hold Onto Your Lug Nuts: Remembering Bank Of America Closing 600 Branches & Putting 30,000 Americans Out Of Work.

FILE – Bank of America‘s corporate headquarters in Charlotte.

Bank of America will close up to 600 branches as part of its reorganization and cost-cutting moves, according to multiple reports this morning.

Published and broadcast reports say Bank of America will split into separate consumer and commercial units, and that will lead to the branch closings.

Charlotte’s NewsChannel 36 says analysts believe the decision to split into two units and close the branches is a signal that Bank of America CEO Brian Moynihan plans broader and deeper layoffs than those announced earlier this week.

– The (Charlotte) Observer staff reports

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