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.
On Tuesday, The Observer reported that Moynihan’s reorganization efforts could lead to up to 30,000 job cuts. In addition, the bank announced the departure of two top executives – Sallie Krawcheck, head of the global wealth and investment management division; and Joe Price, president of the consumer bank.
– The (Charlotte) Observer staff reports
Related articles
- Warning => Get Your Money Out Of Banks: “All Legal Bank Deposit Protections Are Now Officially Gone”
- Bank of America closing Gor-donsville branch (starexponent.com)
- With Bank of America cutting branches, whos left behind? (charlotteobserver.com)
- Market Share by Credit Card Issuer (cardhub.com)
- JOHN BIRCH SOCIETY ORGANIZED TO COUNTER ROTHSCHILD’S CORRUPT COUNCIL ON FOREIGN RELATIONS!
- Hold Onto Your Lug Nuts: Remembering Bank Of America Closing 600 Branches & Putting 30,000 Americans Out Of Work. (politicalvelcraft.org)
- Phony Website Imagines a Crowdsourced Bank of America (credit-land.com)
- Bank of America to Close 200 Branches, Cut 16,000 Jobs (boiseweekly.com)
- Bank of America Is Missing the Point (investorplace.com)
- Bank of America to speed job cuts, reorganization (bizjournals.com)
Political Vel Craft 