Bank of America to Cut 35,000 Jobs Over 3 Years...

[spanone]

Bank of America said on Thursday that it planned to cut 30,000 to 35,000 positions — among the largest layoffs ever — over the next three years as it digests its acquisition of Merrill Lynch. That could amount to more than 11 percent of the combined firms’ global work force of 308,000.

Combining two firms as large as Bank of America and Merrill often involves eliminating duplicate jobs. Both have significant overlap in areas like research and investment banking.

But Bank of America, based in Charlotte, N.C., acknowledged that this round also reflects the dismal economy. The firm said the layoffs would cut across all of its businesses, and that a final number would be determined early next year.

Many of the jobs will be lost through attrition, Bank of America said, though a spokesman declined to comment on specifics of the plan, like which offices will be affected and which businesses will see job reductions.

http://www.nytimes.com/2008/12/12/business/12bank.html?hp=&pagewanted=print

[MazeRat7]

1. Who is fighting for them ?

Or for that matter any worker getting laid off. With over a half million folks unemployed (to date), someone has to ask: Who is fighting for the average worker?

What do we need to do to make sure every one has a job?


Peace,
MZr7

[spanone]

2. i don't see much help for the workers...congress is currently trying to reduce auto workers pay

[Ilsa]

3. Loan officers will have to become collectors to stay employed.

They should be some of the first to go if credit remains tight. nt

[nolabels]

4. BofA can burn in hell

When i just a child thirty some years ago they stole my up till then life savings of $63, saying it was used for payment to service the account. Go fuck yourself BofA x(