According to NY Times Bank Of America about to shed 30,000 job. Do these job creators need any more free tax payer dollars?

Bank of America Confirms 30,000 Jobs to Go

By NELSON D. SCHWARTZ

Bank of America’s chief executive, Brian T. Moynihan, vowed on Monday to eliminate $5 billion in costs annually by 2014, a move that will eliminate at least 30,000 jobs at the company, which employs 288,000 people and is the largest bank in the United States.

In a widely anticipated speech at an investor conference organized by Barclays in New York, Mr. Moynihan outlined his plan to make Bank of America, the largest bank in the United States, more efficient and profitable even if that means sacrificing scale. “We don’t have to be the biggest company out there,” he said. “We have to be the best.”

While he did not specify the number of jobs that might be involved, the company announced shortly after his speech that 30,000 jobs are to be eliminated under the company’s Project New BAC cost-cutting initiative. The initial recommendations by the architects of New BAC, which takes its name from the company’s ticker symbol, were reviewed last Thursday and Friday by the company’s top management in Charlotte, N.C.

Full Story Here:  http://www.nytimes.com/2011/09/13/business/ceo-promises-cuts-at-bank-of-america.html?_r=1&nl=afternoonupdate&emc=aua22&pagewanted=print#h[]