By Rick Rothacker ยท The Charlotte Observer
CHARLOTTE — How many jobs will Bank of America Corp. cut in its planned purchase of Wall Street giant Merrill Lynch & Co.?
The Charlotte bank hasn’t disclosed that information, but analysts are expecting a big number if it’s to achieve its goal of shaving $7 billion in annual expenses, or 10 percent of combined costs, by 2012. The cuts could resonate from Charlotte to Boston to New York.
At the high end, Aite Group analyst Alois Pirker said in a report last week that the bank may eliminate up to 27,000 jobs, roughly 10 percent of the combined work force of nearly 270,000 employees.
