Bank of America to cut 4,000 jobs

NEW YORK – Bank of America Corp. said it will
lay off about 2,500 workers in Illinois and 1,500 in Michigan over the next two
years in connection with its $21 billion purchase of LaSalle Bank Corp. from
Dutch bank ABN AMRO Holding NV.

The cuts are intended to help the
second-largest U.S. bank save about $800 million by 2009. Following the cuts,
Bank of America expects to employ about 8,000 people in Illinois and 2,500 in
Michigan. It ended June with 195,675 employees.

Source: Reuters

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