SAN FRANCISCO -- BankAmerica Corp.'s recent decision to adopt a tough austerity program casts a shadow on its ambitious expansion drive.

To explain its move to chop costs by 4% and cut up to 3,750 jobs by yearend 1994, the nation's second-largest bank company cited weak revenue and financial performance below the level of other major banks.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.