Bank of America to cut jobs

Bank of America is cutting thousands of jobs.

The Charlotte-based company announced it expects to eliminate 30,000 to 35,000 jobs in the next three years.

The massive reduction comes after the bank’s absorption of Merrill Lynch, the Wall Street investment firm it agreed to buy in September.

The bank said the cuts will affect workers from both companies. A final number of job cuts will be announced early next year.