Bank of America cutting 16,000 jobs by year’s end: Report

[OverDone]

Source: CNBC

Bank of America is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues

Read more: http://www.cnbc.com/id/49098399

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Not sure if theses are previously reported layoffs, but at any rate 16,000 banking sector jobs gone by year end.

Every sector is getting hit, no one is ok in this recession/recovery.

Complete Layoff list for ya - http://www.dailyjobcuts.com

[DainBramaged]

1. Mark my words most of those positions will be outsourced

largely through cuts in consumer and technology areas.

[tjdee]

2. Where did all their bailout money go?

???

[OverDone]

10. Well...

Well........ its gone sorry

[tjdee]

3. "America's second-largest bank is relocating its business-support operations to the Philippines"

What a grand fuck you to the American people that saved their asses.

http://www.motherjones.com/politics/2012/05/bank-of-america-outsourcing-call-center-philippines

[davidn3600]

5. And Romney and his ilk want to deregulate the banks and cut taxes on their profits

Meanwhile the underwater homeowners can continue to suffer.

[HoneychildMooseMoss]

19. I'm glad I don't have an account with them

Although I have gotten a few credit card offers from them, which I use to get the fires in the fireplace going

[Panasonic]

4. They should not be called the Bank of America anymore

but the Bank of the Phillippines.

[OverDone]

6. True

I hope when i call customer service that person that answers name is still John.. when they have an accent like no tomorrow.

[BlueInPhilly]

14. I have an accent

and I am totally offended by your statement.

[OverDone]

15. I have an accent too

I have an accent too, so no offense there. If you ever called basically any Customer Service line you would understand what I'm saying.
Its not an offensive statement, but any means.

[olddad56]

17. how about the Bank Robbers of America.

[hobbit709]

7. Bet they're NOT keeping the jobs of the fact checkers in their paperwork.

Expect wrongful foreclosures to rise.

[loudsue]

8. I'm sorry there will be 16,000 more people out of jobs, but it is a company's

employees and service -- ESPECIALLY IN A BANK, of all things -- that keep people wanting to bank there. In other words, I hope their service suffers even more than it already has, and it puts them out of business once and for all.

And then the banksters involved can burn in hell, for all I care. I already cannot stand b of a.

[slackmaster]

9. I hope those people find better jobs. Working in financial services generally sucks.

Unless you are in upper management.

[onehandle]

12. Doing as Mittens would do. nt

[aquart]

13. Will the executive bonuses go down?

[smirkymonkey]

16. Of course not, they will increase because it was so brilliant of them to

lay off Americans and outsource to a cheaper labor market. They DESERVE even bigger bonuses!! That's their rationale anyway. Trust me, I used to work with these assholes.

It makes me absolutely sick. Next time they need a bailout, they can f**k off as far as I'm concerned. Go ask the Philippine government, you've worn out your welcome here.

[KamaAina]

18. One down, 15,999 to go

http://www.democraticunderground.com/10021379502

[ibegurpard]

20. support your local credit unions!

take your money out of Bank of UnAmerica and help create jobs locally!

[lonestarnot]

21. I bet they don't lay off any foreclosure staff.

[RB TexLa]

22. 16,000 is really low. Really not cutting that much cost.

They are way, way to high on employees.

If the big banks would get together and agree on it they could all cut costs by closing about 40% of their branches. Branches are very expensive to staff and operate and too many exist just because a competitor is across the street.