The cuts come as Bank of America is aiming to trim costs to boost profit margins.

Bank of America is slashing jobs in its operations and technology division as part of cost cutting efforts to boost financial targets set by chief executive Brian Moynihan. 

Earlier this week, the second-largest US bank axed jobs across that division, but would specify the number, according to media reports. 

This publication has reached out to the group for comment.

The cuts come as Bank of America is aiming to trim costs to boost profit margins. 

Some may see the move as unusual, at a time when many banks are investing heavily in technology to keep abreast of new-age threats, such as cyber crime, and to win business from younger, more tech-savvy clients.

Although the bank is also hiring, the employee base that it is trying to trim costs more than those who are joining, Moynihan reportedly said at a conference last month. 

The bank has also shuttered several data centres, instead storing data on less-costly systems operated by technology firms.