Bank of America to Cut 50 Jobs in Tampa

(Reuters) - Bank of America Corp is speeding up plan

Damages related to Greek debt exposure continue to mount. ING and BNP have both taken writeoffs related to Greek debt and both are cutting jobs.Expect more damage related to sovereign debt in Spain, Portugal, and Italy as well as general writeoffs related to the European recession. Please see Europe Undeniably in Recession; Germany Manufacturing PMI Contracts for First Time in Two Years, New Orders Collapse for a discussion of the recession.

(NEW YORK) — Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008. The announcement came as the nation’s second biggest bank reported higher net income for the first quarter, but missed analysts’ expectations.

(NEW YORK) — Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008. The announcement came as the nation’s second biggest bank reported higher net income for the first quarter, but missed analysts’ expectations.

(Reuters) - Bank of America Corp is planning to cut up to 400 jobs in its investment b

By Peter Pham:Bank of America Corp. (BAC) will no longer lay claim as the U.S.'s largest employer in banking sector as it announced cost cutting initiatives that include slashing 16,000 jobs, or 6% of its workforce, by the end of the year. The job cut is part of the program called Project New BAC under which 30,000 people will be laid off and $5 billion in annual expenses will be saved by the end of 2013.

Bank of America will cut about 30,000 jobs as part of a broad restructuring plan aimed at slashing costs at the embattled US banking giant, the company said on Monday.The cuts, which represent about 10 percent of BofA's workforce, will be carried out "over the next few years", the bank said in a statement.