Bostonians warn Delaware about Bank of America broken promises

[cyberpj]

What to expect from Bank of America

•In Boston, there are tales of broken promises and warnings that Delaware job cuts will be deeper than feared
By PETER BOTHUM and TED GRIFFITH / The News Journal
07/03/2005

BOSTON -- Some Bostonians say Delaware residents should be worried.

Though revered in its hometown of Charlotte, N.C., for its business prowess and charity, Bank of America has gotten a frosty reception in New England's largest city.

John Karavias, a 20-year veteran of Boston's financial sector, blames Bank of America for slashing jobs after it acquired FleetBoston Financial in 2004 for $48 billion. Bank of America announced Thursday that it would buy Wilmington-based MBNA for $35 billion, and that 6,000 jobs nationally between the two companies would be eliminated.

"If I had to guess, I would say three-quarters of the job cuts would come from ," said Karavias, a programmer with Brown Brothers Harriman & Co., who was outside on a smoke break Friday. "I've been on the wrong side of takeovers like that, and you usually lose."

http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20050703/NEWS01/507030354/1001/NEWS