Bank of America says it will cut 30,000 positions

[marmar]

NEW YORK (MarketWatch) -- Bank of America ticked higher on Monday after it said it would cut 30,000 jobs "over the next few years" as part of a review of its consumer business. The Charlotte, N.C., lender said it expects that attrition and the "elimination of appropriate unfilled roles" will be a significant part of the expected decrease in jobs. Bank of America plans to save $5 billion a year by 2014, as part of a Phase I plan by the bank. Phase II is scheduled to begin in October and continue through March, 2012 to address business segments not yet covered, the bank said. Shares of Bank of America rose 0.7% to $7.04 after trading in negative territory earlier in the day.


http://www.marketwatch.com/story/bank-of-america-says-will-cut-30000-positions-2011-09-12?link=MW_home_latest_news

[Broderick]

1. And the unemployment costs associated with this

is just more "corporate bank welfare".

[Harmony Blue]

2. BoA sucks

why people choose to do business with them boggles my mind.

[Broderick]

5. Every fucking time I try to get away from them

they consolidate with someone and I get another fucking statement from them.

Everyone at the top of that food chain, thieves, should be marched to prison.

[Bonobo]

3. Watch their stock climb! Time to invest!

How much money did they get fromt the bailout out again?

How many homes have they illegally, yes, ILLEGALLY seized?

How much have they stolen from us with their tricky late payment scams, etc.

Fuuuuuu-huuuuck Bank of America!!!!

[krispos42]

4. Stock price goes UP over projected lower payroll costs.

First and foremost legal obligation of a corporation is profit and shareholder price.


Ergo, corporations will not hire unless absolutely necessary. Unless DEMAND forces them to hire people.

[tsuki]

6. The Job Creators strike again. Give 'em another TARP. nt

[Rex]

7. Thanks for helping us steal all that money!

Now fuck off!

[Loge23]

8. $950,000 a year for their CEO

You're doing a heck a job Mr. Moynihan!
$79,167 a month!
Plus, a $9.05M stock option!

Good to see the American Dream is alive and well, while the rest of us get the American Nightmare!
http://blogs.wsj.com/deals/2011/01/31/bank-of-americas-brian-moynihan-lands-905-million-stock-award/

[OhioChick]

9. Overseas positions? n/t