Bank of America, the bank that cut more than 10,000 jobs last year, will reduce the number of employees in 2016 as it seeks to lower costs amid declining revenue, CEO Brian Moynihan said.
'We took down the headcount by 2,000 in the fourth quarter', Moynihan said Thursday in a Bloomberg TV interview from the World Economic Forum in Davos. He declined to say how many jobs would be cut this year, 'but it will be lower than it is now'.
Bloomberg News reports that Bank of America had 213,280 employees as of December 31, down 4.7% from a year earlier, according to a financial statement from the bank.
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BofA CEO Moynihan Sees More Job Cuts as Bank Reduces Costs
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