Dec 12, 2008

Bank Of America Sending 35,000 Packing, Bad News For Merrill Workers

In July Bank of America announced that they would be slashing CountryWide staff down to 7,500 from a high of 50,600 in 2007. That’s 85%. If past deeds is a prediction of future action then BofA will be shrinking Merrill significantly. Some layoffs have already occurred but my guess would be that three out of five Merrill employees will be pink-slipped out. That would account for the 35,000 announced cuts.

If you have any specifics please post them in our comment section.

From “Bank of America is said to be planning on canning half of its New York equity trading desk in the next 2-4 weeks.”