BofA’s Moynihan Keeps No-2020-Layoffs Vow as Peers Cut Jobs (2)

Bank of America Corp. plans to stand by its pledge of avoiding staff cuts this year as some of its biggest rivals resume workforce reductions amid the pandemic.

“We’ve said no layoffs for this year and we’ll stick by that,” Bank of America Chief Executive Officer Brian Moynihan said Thursday in a Bloomberg Television interview with David Westin. Banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. have resumed job cuts.

WATCH: Bank of America CEO Brian Moynihan says the bank will stick with its pledge to avoid staff cuts this year.

(Source: Bloomberg)

Charlotte, North Carolina-based Bank of America is temporarily staffed “a little higher” during the pandemic because it hired people to ...