Bank of America said it will cut jobs in Asia.
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The ailing bank said it has already cut 61 jobs in Thailand and may lay off 18% of its 1,180 employees in Hong Kong--up to 276 jobs in all. The bank laid off 100 people in Singapore last week, and said it may also close some of its 11 branches in Hong Kong. “We found it imperative to makes these changes to focus more clearly on our business strategies and to bring our business to an acceptable level of performance,” it said in a statement.
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