Bank of America Corp., the third-largest U.S. bank, said yesterday that it plans to cut as many as 35,000 jobs because of the weak economic environment. The job cuts will take place over the coming three years and will equal 11 per cent of BOA's total workforce. The number of Americans filing first-time claims for unemployment benefits surged to 573,000 last week, the Labor Department said. It is the highest level since November 1982.
