Bank of America Cutting 30,000 to 40,000 Jobs

Posted on September 12, 2011

Bank of America plans to cut as many as 30,000 jobs over the next five years. The company is still hurting from its acquisition of Countrywide - and its bad mortgages - in 2008. Bank of America's shares have lost about half their value so far this year.

Another report says Bank of America's job cuts will be at least 40,000. The layoffs come at a time when the country is still struggling to mount a recovery from the 2008 recession. Take a look: