Bank of America (BAC) has cut some jobs in its commercial banking division as it continues to slim down.
The job eliminations, which included loan processors and bankers in commercial banking offices across the U.S., were part of the cost-cutting initiative called Project New BAC, Reuters
"We regularly review our businesses to ensure we're best positioned to meet client needs and capture market opportunities as they develop," Bank of America spokesman Jefferson George wrote in an email Wednesday. "We will continue to make strategic hires in growth areas."
Bank of America has been working to increase
During the second phase of the program, Bank of America will cut jobs in wealth management, capital markets and investment and commercial banking, Reuters reported.