Under Project New BAC, Bank of America has said it planned to eliminate $5 billion in annual expenses and 30,000 jobs by the end of 2013, largely through cuts in consumer and technology areas. A second phase is expected to eliminate $3 billion in annual expenses by mid-2015 by making undisclosed cuts in capital markets, commercial banking and wealth management areas.

https://www.huffpost.com/entry/bank-of-america-layoffs-16000_n_1899691