{"id":30466,"date":"2012-09-24T15:15:10","date_gmt":"2012-09-24T19:15:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=30466"},"modified":"2012-09-24T15:15:10","modified_gmt":"2012-09-24T19:15:10","slug":"video-bank-of-america-could-be-cutting-16000-jobs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/09\/24\/video-bank-of-america-could-be-cutting-16000-jobs\/","title":{"rendered":"VIDEO: Bank Of America Could be Cutting 16,000 Jobs"},"content":{"rendered":"<p><div id=\"grabDiv1767162\"><object id=\"GrabPlayer1767162\" width=\"542\" height=\"304\" type=\"application\/x-shockwave-flash\" align=\"middle\" data=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vfc080e2cb310f18a2ece3c0d2c8d9fb9667733a4&#038;tgt=grabnetworks\"><param name=\"quality\" value=\"high\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"menu\" value=\"false\"\/><param name=\"wmode\" value=\"transparent\"\/><param name=\"movie\" value=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vfc080e2cb310f18a2ece3c0d2c8d9fb9667733a4&#038;tgt=grabnetworks\"\/><\/object><\/p>\n<div id=\"overlay-adzone\" style=\"overflow:hidden; position:relative\"><\/div>\n<\/div>\n<p>One of America&#8217;s biggest banks could soon become smaller. According to the Wall Street Journal, Bank of America (NYSE:BAC) is planning on cutting 16,000 jobs by the end of the year in an effort to trim the bank&#8217;s size and make it more profitable. The newspaper said the reductions were outlined in a document given to top management. No official announcement by the bank yet but this information could be seen as a positive move. Since Brian Moynihan took over as Chief Executive Officer, reductions have caused a drop of 7% in assets to a recent $2.6 trillion. Although the job cuts most likely mean the closing of more operations at the bank and therefore more reduction in assets, it doesn&#8217;t mean that the bank won&#8217;t turn even more of a profit. Investors will just have to wait and see what happens next. This rumor though has sparked some interest in the stock this morning. Bank of America is up over 1% to $9.30.<\/p>\n<p><img src='http:\/\/images.grab-media.com\/financial_news_network\/2012\/09\/24\/1_teuyle85_thumb.jpg' \/><\/p>\n<p><!--post_img[http:\/\/images.grab-media.com\/financial_news_network\/2012\/09\/24\/1_teuyle85_preview.jpg]--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of America&#8217;s biggest banks could soon become smaller. According to the Wall Street Journal, Bank of America (NYSE:BAC) is planning on cutting 16,000 jobs by the end of the year in an effort to trim the bank&#8217;s size and make it more profitable. The newspaper said the reductions were outlined in a document given &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/09\/24\/video-bank-of-america-could-be-cutting-16000-jobs\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;VIDEO: Bank Of America Could be Cutting 16,000 Jobs&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-30466","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/30466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=30466"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/30466\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=30466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=30466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=30466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}