Bank of America CEO says job cuts due soon-report
NEW YORK, Dec 3 (Reuters) - Bank of America Corp (BAC.N) Chief Executive Kenneth Lewis said the bank is in the "final stage of our analysis" for planned job cuts following its purchase of Merrill Lynch & Co MER.N, the Charlotte Observer said on its website on Wednesday.
"We'll have something pretty soon," Lewis said at a Charlotte Chamber of Commerce event, the newspaper said.
Bank of America has said it plans to cut $7 billion of the merged company's annual costs, or about 10 percent, by 2012. Some cuts would come from the elimination of overlapping or back-office operations.
Lewis declined to comment on a CNBC report that as many as 30,000 jobs could be eliminated, the newspaper said. CNBC earlier this week said 10,000 cuts are expected, citing unnamed sources. The merged company would have more than 300,000 jobs, before any cuts. (Reporting by Jonathan Stempel, editing by Leslie Gevirtz)
