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Published: December 12, 2008
Bank of America Cutting 35,000
Bank of America said it will eliminate 35,000 jobs over the next three years because of the poor economy and duplications created through its merger with financial services company Merrill Lynch & Co. Inc.
The company said reductions will come from both companies and that more details will be released in early 2009 after it completes an analysis of its needs.
KB Toys Closing Stores
KB Toys filed for bankruptcy protection for the second time in four years on Thursday and plans to begin going-out-of business sales at its stores immediately.
In response, toy retailers, including KB Toys, amped up their discounts.
The company operates 277 mall-based stores, 40 KB Toy Works stores that are mainly in strip malls, 114 outlet stores and 30 short-term holiday stores. It has 4,400 full-time employees and 6,515 seasonal employees.
The Associated Press
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