1/22: BofA updated layoffs to affect 650

Bank of America is planning further layoffs in its corporate and investment-banking unit, its chief financial officer said during the bank’s earnings conference call Tuesday.

Last week, the bank announced 650 new job reductions in the wake of a strategic review. Since October, the company has announced 3,650 layoffs, but CFO Joe Price said more are to come in BofA’s capital markets and advisory group, which has been hit hardest by the credit crunch.