Bloomberg News

CHARLOTTE, N.C. — Bank of America Corp. plans to fire as many as 100 people in its corporate and investment banking unit, according to people familiar with the matter.

The cuts are scheduled to be completed by mid-January.

Bank of America is accelerating previously announced job cuts to shore up flagging earnings. Two weeks ago it said it would write off up to $1.2 billion of bad loans in the fourth quarter. In July it announced plans to cut as many as 10,000 jobs as part of a cost cutting exercise.

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