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The Boston Globe

Business

Bank of America plans to cut more than 300 investment jobs

Bank of America Corp., the second- largest US lender, plans to cut more than 300 jobs from the corporate and investment bank and trading units run by Thomas K. Montag as underperformers are culled from its ranks, according to a person briefed on the matter.

The firm will target workers on desks where business has slowed, said the person, who declined to be identified because the Charlotte, North Carolina-based firm’s plans are private. The reductions are mostly separate from the company-wide cost- cutting program called Project New BAC, the person said.

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