Bank of America will be cutting 3,500 jobs in the current quarter, and is working on a plan that would eliminate thousands of jobs, even up to 10,000, according to The Wall Street Journal.

The 3,500 jobs reduction would be implemented by the end of September this year and will affect most divisions of the bank, including investment banking and trading. Cutting the other thousands of posts could take place during a restructuring plan, according to the Wall Street Journal.

Read the article here.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Prnewswire.com; in photo: Brian Moynihan, CEO Bank of America)