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December 12, 2008

Bank of America Announces Mass Layoffs
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Bank of America has announced plans to cut up to 35,000 jobs over the
next three years. The company blamed the move in part on a pending
acquisition of the brokerage firm Merrill Lynch. Bank of America has
received $25 billion under the taxpayer bailout of Wall Street so far.
It’s the latest in a round of mass layoffs to hit the financial sector.
Last month, Citigroup announced plans to lay off 50,000 workers.



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