Roughly 1,500 of the workers processed home loans for the bank , according to an anonymous source cited by Bloomberg. The bank's widespread job cuts come soon after an announcement in August that 209 positions would be removed from an office in Pittsburgh that dealt with troubled mortgages.
The bank cut 16,000 jobs last year due to persistently declining revenues. In 2011, it cut 30,000 jobs as part of a restructuring plan to reduce costs.