Bank Of America To Cut 3,000 Jobs

Bank of America Corp. says it will eliminate 3,000 jobs. The announcement comes less than a week after the nation's second-largest bank posted disastrous third-quarter results.

The cuts will affect less than 2 percent of the company's staff.
The company says most of those losing jobs will come from the
bank's investment banking unit.

The Charlotte-based bank also said it is launching a strategic
review of its investment banking business.