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As a current bank employee, I can tell you that bank executives are jumping ship left and right for other opportunities....It's a sad state of affairs there. 1 piece of advice that I give to current bank employees is to have your bills paid up and the resume updated.
I left the Bank 5 months ago for a better gig in Atlanta.
You really have to consider how many Bank of America officies there are in the US. Not bank branches, but large buildings for the company. Atlanta and Charlotte being one of them.
You really have to consider how many Bank of America officies there are in the US. Not bank branches, but large buildings for the company. Atlanta and Charlotte being one of them.
And within any large organization there is gauranteed to be a lot of bloat.
You really have to consider how many Bank of America officies there are in the US. Not bank branches, but large buildings for the company. Atlanta and Charlotte being one of them.
Dallas, Miami, NYC, and I think Seattle? Also have a decent BOA presence
QE3 is taking place, the economy will be fixed very soon and new jobs, as the dems said
will be abundant - like billions of new jobs.
Dude or Dudess, "Akunna Ma Tata"
(from the lion king movie)
BofA plans to dismiss nearly 5,300 employees in consumer-banking and 3,200 in the unit that manages new mortgages. Also, reductions are expected in a unit that supervises troubled loans. Moreover, it is planning to shut down 200 branches in the current year. Last year, the company closed down 178 branches.
I'm not sure if the 200 branches to close are included in the 5,300 number?
I'm not sure if the 200 branches to close are included in the 5,300 number?
Don't feel alone! I thought it was a vague reference and I couldn't figure out what they meant -- as to whether that number of layoffs included those employees at the 200 branches, or not.
They could have used the headline "Bank Continues Downsizing Plan" but that wouldn't have been as eye grabbing, would it? You're going to see more banks cutting staff. People do more with ATMs and online banking now, and mobile banking is coming on strong. It is an industry that will operate on less profit due to Dodd/Frank and the Dubin rule, with fewer employees as technology changes it.
There will also be fewer small banks by assets and more big ones, in order to comply with the myrid regulations that have not yet been implemented.
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