| Submit your comments on this article |
| Economy |
| Bank of America layoffs to hit 30,000: Report |
| 2011-09-03 |
| [Straits Times] US banking giant Bank of America is mulling boosting its layoffs to 30,000, triple what was already in the works, the Charlotte Observer, the newspaper of the bank's hometown, said on Friday. That would mean slashing more than 10 per cent of its workforce, the Observer said, citing unnamed sources in the country's largest bank. 'The Charlotte-based bank could potentially shed 25,000 to 30,000 jobs over several years, the sources said,' according to the report. 'Executives are still working on final plans.' |
| Posted by:Fred |
| #2 The 'final plans' of BofA's executives involved pocketing as much boodle as they can before they jump ship and their company goes under. The top executives of many other corporations have been doing the same for over 20 years now, as they turned stockholders into bagholders. |
| Posted by: Anguper Hupomosing9418 2011-09-03 10:54 |
| #1 Since Bank of America has been insolvent for so many years, it really out to lay off 100% of its employees and just go out of business, a normal type of thing to happen in what was once known as the free enterprise system. Any given financial institution is not that critical for the economy as a whole, unless they are been declared Too Big To Fail. |
| Posted by: Anguper Hupomosing9418 2011-09-03 10:50 |