BofA plans $3 billion of new cost cuts; posts second-quarter profit | Reuters

BofA plans $3 billion of new cost cuts; posts second-quarter profit | Reuters: (Reuters) - "Bank of America Corp said it plans to slash costs by $3 billion annually in commercial lending, investment banking and wealth management, becoming the latest big bank to take aim at expenses in a sluggish economy."

I guess more layoffs are coming.