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Bank Of America Layoffs – 30K Confirmed

Bank of America layoffs are being labeled by the company as a “strategy of focusing all of its resources on serving individuals, companies, and institutional investors”. The Bank of America layoffs’ is the latest victim of the company’s reorganization effort, started early this year.

Bank of America Corp (NYSE:BAC)

Albeit the timeline for the layoffs is a couple of years, the reorganization will start next month.

The hedge funds with the most holdings in BAC include Bruce Berkowitz’s Fairholme Fund, with nearly 100 million shares; John Paulson’s Paulson & Co. with nearly 90 million shares; and Eric Mindich’s Eton Park Capital, with nearly 22 million shares.