BofA to start filling out the pink slips...

Experts are estimating that with Bank of America's recent purchase of Merrill Lynch, approximately 27,000 employees will be sent packing(nearly 10% of the total workforce). Although most of the slashes will be to back office operation reps, The Charlotte Observer reports that a decent chunk of those possibly heading to the unemployment line are the investment bankers, simply because Merrill has a better known name in the business. BofA is aiming for a savings of $7 billion, so BofA employees better brace themselves for what the grim future may hold.

Comments (6)

Sep 24, 2008 - 3:01pm
orbithal, what's your opinion? Comment below:

One of my best friends works in risk at Merrill...any body have any idea what the cuts might be like there?

She said they've already started asking people to describe their day to day activities/responsibilities in some of the other middle office departments...

Best Response
Sep 24, 2008 - 5:35pm
WestCoastChimp30, what's your opinion? Comment below:

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