Bank of America has reduced staff by 30% since 2010

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Bank of America CEO Brian Moynihan said in an interview with CNBC that since 2010, when he was appointed head of the bank, Bank of America has reduced its staff by 30%, and at the end of the third quarter of 2018, it accounts for 204,000 employees. The reduction in such a number of personnel was required due to the development of technologies and automation of work processes. According to him, such a significant reduction was possible only after the release of the first Apple smartphone in 2007. 26 million out of the 67 million bank customers are currently users of the Bank of America mobile application.

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