Bank Of America Axed 2,866 Employees Last Quarter

Brian Moynihan Bank of America CEO layoffs Wall Street

Charlotte, North Carolina-based Bank of America revealed that it cut more than 2,800 employees in the third quarter and more than 16,000 employees over the last year. 

From the third-quarter earnings release

At September 30, 2012, the company had 272,594 full-time employees, down 2,866 from the end of the prior quarter, and 16,145 fewer than September 30, 2011. Excluding full-time equivalent employee increases in Legacy Assets and Servicing to handle increasing government and private programs for housing, the number of full-time equivalent employees was down nearly 21,000 from the year-ago quarter to 230,900.

Just over a year ago, BofA announced plans to cut 30,000 employees as part of its Project New BAC. 

That means they’re just past the half-way mark. 

SEE ALSO: Bank Of America Earnings Break Even >

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