Bank of America to Cut Up to 35,000 Jobs

Some of the job cut announcements coming out now are because of the weak economy, but companies are also taking advantage of the recession to cut deadwood and blame it on the economy.

Companies, if they are smart, will come out of this recession lean and mean.

Bank of America saiid it will cut 30,000 to 35,000 jobs over the next three years.

The bank says the job cuts reflect the weak economic environment and its pending merger with Merrill Lynch . It says the final number of job cuts will be announced in early 2009.