Bank of America Tells New York of Plans to Eliminate 324 Jobs in Manhattan

Most of the cuts, 250, may start Dec. 14 at the firm's Midtown tower at 1 Bryant Park, according to a filing dated Sept. 29 to the state's Department of Labor. The rest will be trimmed by the Charlotte, North Carolina-based bank starting Nov. 30 from 2 and 4 World Financial Center and 222 Broadway.

T.J. Crawford, a bank spokesman, said the reductions affect investment banking, equity traders and technology and operations personnel, and are part of 3,500 cuts disclosed in August.

Chief Executive Officer Brian T. Moynihan, 52, has since said he'll cut 30,000 more jobs over the next few years, stoking anxiety among the 288,000 workers the lender had as of midyear. Wall Street firms including Barclays Capital and Credit Suisse Group AG have reduced staff as revenue from trading stocks and bonds has eroded.

Bank of America's reductions are part of an overhaul that aims to remove about $5 billion in annual costs by the end of 2013. Moynihan's plan, dubbed Project New BAC, included a management shakeup last month that left Sallie Krawcheck and Joe Price jobless. The bank said last week it will give the executives a total of $11 million in severance.