Bank of America to slash up to 35,000 jobs

Bank of America plans to shed up to 35,000 jobs worldwide over the next three years following the planned merger with Merrill Lynch.

The bank is predicting job losses of between 30,000 and 35,000 over the next three years. A final number won’t be determined until early next year.

The company says the job cuts reflect the pending merger with Merrill Lynch and the current weak economic environment.

Bank of America is in the process of working out where the job losses will be applied, but says reductions will come from both companies and will affect all lines of business.