Bank of America is shrinking its consumer banking division by 8,000 people as it prepares to go digital.
The bank has already considerably reduced the staffing numbers: from 100,000 in 2009 to 68,400 in Q1 2016. Thong Nguyen, Bank of America’s president of retail banking and co-head of consumer banking, expects the numbers to go down to “the low 60s”.
