BAC may cut 40,000 positions

Whigs

Bank of America Corp. officials have discussed eliminating roughly 40,000
positions during the first wave of a restructuring that Chief Executive
Brian Moynihan is expected to discuss Monday, said people familiar with the
plans.

The numbers aren't final and could change. The restructuring would reduce
the bank's work force over a period of years. In fact, Mr. Moynihan may not
discuss a job-cut number during next week's presentation at the Barclays
Capital 2011 Global Financial Services Conference in New York.