Bank of America Corp. said it would deliver another $5 billion in annual cost cuts by 2018."...Much of the cost-cutting burden is falling on the bank’s staff. Bank of America has shed about 25% of its jobs since Mr. Moynihan became CEO in 2010, with employment falling to about 210,000 from nearly 284,000. The bank slashed about 6,000 jobs over the past 12 months, or 3% of its work force, and in January it let retention packages for some of its longtime Merrill Lynch brokers expire."
“We’re down 2,600 people quarter over quarter,” Mr. Moynihan said. “It’s a constant reduction in personnel through hard work and automation.”
http://www.wsj.com/articles/bank-of-americas-results-slide-1468839019