How long do you think it will be, until BofA comes knocking on the Treasury Secretary’s door?
Bank of America Corp said on Thursday it plans to eliminate 30,000 to 35,000 jobs over three years after it completes its purchase of Merrill Lynch & Co.
The cuts could affect about 11 percent of the combined companies’ roughly 308,000-person workforce. Bank of America employs about 247,000 people and Merrill about 61,000.
Bank of America said the expected cuts reflect the pending merger, as well as “the weak economic environment, which is affecting the level of business activity.”
I knew I should have invested in that tin cup business a while back.
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