Bank of America may cut up to 35,000 jobs

Bank of America Corp. said Thursday it expects to eliminate 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co.

Bank Of America Gets Fed Approval To Buy Merrill Lynch

Bank of America Corp. on Wednesday received approval from the Federal Reserve for its purchase of Merrill Lynch . Bank of America aims to close the deal, valued at about $50 billion, by the end of the year. Once the purchase is completed, Bank of America will have the largest wealth management business in the world with around $2.5 trillion in client assets.