Bank Of America To Shorten Its Network  Kenneth Lewis |
Bank of America Corp, the largest US bank, plans to shrink its network of 6,100 branches by 10%.
CEO Kenneth Lewis announced the news to investors last week at a meeting in Charlotte, North Carolina, where the company is based, the report said. The cuts follow two decades of expansion.
"We don't have a final plan for the ultimate number of branches," James Mahoney, head of corporate communications for the company," said.
"Our vision is the network will be managed downward over time."
