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.
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thats what you get when you work for a shitty bank
As sad as it is that college students will have a tough time getting jobs in the industry, I take comfort in knowing that at least people like you will be left out as well.
Just curious SternMonkey, what bank is it again you work for?
I believe he just wrapped up a phone interview for an ops position at shittybank, oops i mean citibank.
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...
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