Impact of cuts 'minimal'

By admin on November 1, 2007 12:00 AM

BANK of America has said less than 100 of its 3,000 planned job cuts will come from Europe and Asia.
The bank announced it would be reducing its workforce last Wednesday (October 24) after revealing a 32 per cent drop in overall profit.
The statement caused widespread discussion in many of the bank's offices, including its UK base in Canada Square.

Bank of America declined to comment about the details of cuts, but a source with knowledge of the plans told Reuters last week that the impact on Europe, the Middle East and Africa would be "very minimal".
Bank of America employs 198,000 workers worldwide.
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