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Bank of America to lay off 16,000 workers

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Bank of America, the second largest bank-holding company in the US, plans to lay off 16,000 workers by the end of the year, according to reports published Thursday in the Financial Times and Wall Street Journal. The news follows the announcement by American Airlines earlier this week that it is sending layoff notices to 11,000 employees, 4,400 of whom the company says it actually intends to lay off.

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