Bank of America to cut 30,000 jobs - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Bank of America to cut 30,000 jobs

(KLTV) - Bank of America says it will cut about 30,000 jobs over the next few years to try to save $5 billion dollars a year.

The troubled bank says it expects many of the cuts will come through attrition and eliminating unfilled positions.

The bank's stock has lost 47% this year, largely over problems related to poorly-written mortgages it acquired with its 2008 purchase of Countrywide Financial Corporation.

Bank of America is the nation's largest bank.

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