CNBC Reporter. In the last six years, the Bank of America corporate family has markedly changed face: buying Countrywide, salvaging Merrill Lynch from the brink of collapse, shedding $40 billion in other assets and streamlining its workforce.Bank of America is planning to cut thousands of jobs by the end of 2012.Bank of America is once again in the hot seat, this time for allegedly withdrawing money from child entertainers' bank accounts, according to a recent class action lawsuit. According to the complaint, Bank of America charged child actors' CooganMaterials producers, consumer staples, and bank stocks led losses in the S&P 500. Alcoa Inc. (AA), Coca-Cola Co. (KO) and Bank of America Corp. slipped at least 0.8 percent. Research In Motion Ltd. (RIM) declined 6.5 percent as its BlackBerry serviceBank of America will be speeding up its cost-cutting measures and will lay off 16,000 employees by the end of the year. The Wall Street Journal has obtained a “document given to top management” of the bank and is reporting
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