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September 02, 2011

Bank of America Could Slash Up To 30,000 Jobs

The most brutal layoffs yet.

The unfinalized plans are to cut over 10,000 and up to 30,000 employees in the next few years.

The reason for them is simple.

The massive cuts are partly to make up for what are expected to be huge lawsuit-related losses over the firm's and Countrywide's role in the mortgage crisis. Bank of America bought Countrywide, the country's largest mortgage lender, in 2008.


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posted by Ace at 05:56 PM

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