Are BofA Layoffs a Sign of Things to Come?

Concept image of people merger

Bank of America is turning its sights to IT as it continues to cut jobs throughout its organization, according to a Reuters report. This is all part of an ongoing initiative, Project New BAC, that the bank says will see efficiency gains after the elimination of 30,000 jobs.

"These job cuts are part of the previously announced position reductions taking place in connection with Project New BAC, an effort to increase revenue, simplify and streamline work, and align expenses to Bank of America's cu