Bank of America to cut 25% of Analysts

Research Analysts.

If anyone is interested, here is the Bloomberg article.

http://www.bloomberg.com/apps/news?pid=20601087&sid=attOQILewT3A&refer=…

-------------------- "It is a fine thing to be out on the hills alone. A man can hardly be a beast or a fool alone on a great mountain." - Francis Kilvert (1840-1879) "Ce serait bien plus beau si je pouvais le dire à quelqu'un." - Samivel

The article is referring to research analysts (along with their teams), and the cuts were made yesterday.

B of A may also have a problem with their IBD analysts in the future. In the summer of 2006, they paid about 1/3 (don't know the exact number) of their analyst class to take off a year before starting. Now they have both classes of their 2007 summers that they gave offers to and the remaining 2006s all scheduled to start FT in 2008. I heard about this before the credit crisis, so I am curious if anyone who works there in IBD can shed some light on this.

I hope BoA goes under. Especially the commercial banking division. Nothing against the people who work there, but because their practices are just so fucked up. Right up there along with Chase.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

You definitely do not want BofA to go under.  It benefits no one to have a major player go under because of the disruption that it will cause in the marketplace.