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Bank of America Cutting 3,500 Jobs, And More May Follow

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posted on Aug, 19 2011 @ 09:50 AM
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Bank of America Cutting 3,500 Jobs, And More May Follow


www.cnbc.com

Bank of America [BAC.N 7.04 0.03 (+0.43%) ] is cutting 3,500 jobs this quarter and working on a restructuring that could eliminate thousands of additional positions, adding to a slew of layoffs by major banks.

(visit the link for the full news article)




posted on Aug, 19 2011 @ 09:50 AM
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Its shares, down more than 23 percent over the past month alone, fell another 2 percent in premarket trading.


I say short it to zero.

Good riddance!!!


Executives at the bank still are discussing the possible range of cuts, but one person familiar with the situation said at least 10,000 jobs are likely to be eliminated.


I know it sounds callous, but those that depend on corporations like BoA for their livelihoods should remember these words:

‘The only thing necessary for the triumph of evil is for good men to do nothing.’ Edmund Burke

So which are you? A perpetrator, a collaborator, a bystander, or a victim?

www.cnbc.com
(visit the link for the full news article)



posted on Aug, 19 2011 @ 09:52 AM
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this really isn't surprising....

maybe they know something we dont, and if that's the case, companies usually go through gradual tiered layoffs like this before closing the door...

in other news, didnt i read somewhere BOA was not allowed to charge fees for overdrafts? According to my fiance she was just charged an "over payment" fee of $35 dollars....lol ultimate scam ever, lets change around the wording so its not a over draft fee...



posted on Aug, 19 2011 @ 09:57 AM
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The too big to fail are going to need another bailout in order to survive what is going on in the markets this time just like the last time.

But unless our corporate ridden congress does a special session for that, they voted already for no more bailouts.

The fed budget has to be balance with fed cuts not more printing money.

So if the corrupted congress whores even hint that they are to do more bailouts is time for a second American revolution, this time to clean the white house and liberate America from corporate tyranny.



posted on Aug, 19 2011 @ 10:11 AM
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I want to say good, finally! PRank of america is laying off! but..the employees again are the ones being layd off..not the CEO, or vice president, or executives..its the small person. as much as it technically sounds like good news, its the employees, people not 100% committed to the bank, as with most jobs, being let go. thats sucks and isnt fair. they got bailout money, i belive they did...and its the employees that suffer. the wrong ones*



posted on Aug, 19 2011 @ 10:28 AM
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Originally posted by Iamonlyhuman
I say short it to zero.

Good riddance!!!



Seemingly you are not the only one thinking along such lines,,,



A $2 Million Bet That Bank Of America Will Be $4 By November

Will BAC be at $4 by November? We don't know. But someone just made a $2 million bet that this is precisely what will happen. Minutes ago, 54k $4 BAC November Puts were purchased at $0.37. The total price: $2 million. Will this event occur? Like we said, we don't know, but it sure looks far more realistic than Paulson's bet that BAC will trade at $30 by the end of the year...



edit on 8/19/11 by silent thunder because: (no reason given)



posted on Aug, 19 2011 @ 10:43 AM
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reply to post by Iamonlyhuman
 


They will probably just reduce the number of branches they have all over the place.
---------
More bad news for Obamanomics.

---------
Maybe Obama could hire them all at the IRS to terrorize us about our healthcare
plan or lack there of.



posted on Aug, 19 2011 @ 12:23 PM
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First HSBC, now BOA trimming. Preparing for a global war?




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