Bank of America Corp is speeding up planned job cuts as revenue continues to decline amid new regulations and a tepid economy, the Wall Street Journal reported.

The second-largest U.S. bank intends to slash 16,000 jobs by year-end, putting it a year ahead of a plan to eliminate 30,000 under a cost-cutting program called Project New BAC, the newspaper said, citing a document given to top management.

The bank began cutting jobs last fall and had been expected to complete the task by the end of 2013.

BofA speeds up plans to cut 16,000 jobs, 9/20/12

Facebooktwittergoogle_plusredditpinterestlinkedinmailby feather