• 08 Sep 2011 at 12:27 PM

Layoffs Watch ’11: Bank Of America

By Bess Levin

Apparently the aforementioned cuts have begun.

The ax is said to be falling circa now for “all tiers and levels” with “tons” being let go.

No word on severance at this time (let us know if there’s anything you’d like to get off your chest).

Comments (36)

  1. 1
    Posted by Reap What I Sowed | September 8, 2011 at 1:04 PM

    Brian "Deer-in-the-Headlights" first to go…

  2. 2
    Posted by Guest | September 8, 2011 at 1:10 PM

    Lots of lapel pins, name tags, "spirit wear" and spirit points being bitterly chucked in garbage cans right now.

  3. 3
    Posted by Never2Tan | September 8, 2011 at 1:25 PM

    Wanna hang out?
    -Angelo

  4. 4
    Posted by DingALing | September 8, 2011 at 1:30 PM

    "We're sending emails at random with a 1 or 2. If you received a 2, please pack your things"

    BoA HR

  5. 5
    Posted by AIG Quant via LEH | September 8, 2011 at 1:30 PM

    bastards

  6. 6
    Posted by Guest | September 8, 2011 at 1:36 PM

    Maybe the i bankers could work in the retail bank, since they do use the same nametags.

  7. 7
    Posted by Angelo Mozilo | September 8, 2011 at 1:40 PM

    I think you are "Reaping" wrong

  8. 8
    Posted by Blah Blah | September 8, 2011 at 1:44 PM

    While we're talking about chests, who wants to do a shot off mine?
    -L. Tilton

  9. 9
    Posted by Sallie Krawcheck | September 8, 2011 at 1:47 PM

    At least I get a head start at the unemployment line……en route to Stamford to interview for a reputable European Bank, wish me luck.

  10. 10
    Posted by Guest | September 8, 2011 at 1:51 PM

    Bank of America has employees… Why?

  11. 11
    Posted by xxx | September 8, 2011 at 1:54 PM

    Hearing research getting 25 ibank 45 trading. Sales rest

  12. 12
    Posted by C. Griswold | September 8, 2011 at 2:01 PM

    I hear severance is 1yr/2yr/3yr jelly-of-the-month club memberships for Analyst/Associate/VP

  13. 13
    Posted by Merchant Refugee | September 8, 2011 at 2:07 PM

    When is BAML going sell MLCI to Freepoint?

  14. 14
    Posted by Guest | September 8, 2011 at 2:14 PM

    Leaping Long?

    - Asian Triple jumper

  15. 15
    Posted by Guest | September 8, 2011 at 2:32 PM

    That's the gift that keeps on giving.

  16. 16
    Posted by Brian M | September 8, 2011 at 2:44 PM

    boxes to pack your stuff spotted

  17. 17
    Posted by Guest | September 8, 2011 at 2:57 PM

    Do you want us to wish you good luck with the interview or good luck finding a reputable European Bank in Stamford?

  18. 18
    Posted by Lord Humongous | September 8, 2011 at 2:59 PM

    He has the "ugh….who farted?" look in that pic

  19. 19
    Posted by Guestalicious | September 8, 2011 at 3:06 PM

    Laughing violently. do not examine your motives

  20. 20
    Posted by 25th Hour Trader | September 8, 2011 at 3:29 PM

    So much for them being open to suggestions. I put a handwritten note for Project BAC in the box saying "don't fire me" and – you guessed it – they fired me.

    -ex BAC trader who wonders if the grass will be greener – or the biscuits any fluffier – on the other side.

  21. 21
    Posted by Guesty | September 8, 2011 at 3:30 PM

    How unAmerican.

    -AFL-CIO

  22. 22
    Posted by Mexi_Cant | September 8, 2011 at 3:35 PM

    Fired from BaML > Getting rejected from the BaML interview.

    -Wells Fargo Analyst

  23. 23
    Posted by Guest | September 8, 2011 at 4:07 PM

    I'll always appreciate your 'biscuit' schtick. It was gold from Day 1.

  24. 24
    Posted by HappilyQuit3WeeksAgo | September 8, 2011 at 4:08 PM

    Hearing from friends and colleagues that anywhere from 10-25% of i-banking groups were being cut. All levels, from newly minted 2nd year analysts to MDs. As always, VPs taking the brunt of it.

  25. 25
    Posted by Ken Lewis | September 8, 2011 at 5:24 PM

    Did the Merrill Lynch Unit get hit?

  26. 26
    Posted by MDLN | September 8, 2011 at 5:28 PM

    ML took a big hit in commodities. What does tihs mean for the IB?

  27. 27
    Posted by Zoroz | September 8, 2011 at 5:47 PM

    Severance is one month of free checking for every year of service (rounded down for partial years, up to a maximum 12 mos.)
    ~WydeKloppe

  28. 28
    Posted by John Thain | September 8, 2011 at 7:54 PM

    Bank of America Sucks!

  29. 29
    Posted by Danker_Banker | September 8, 2011 at 8:21 PM

    FTMFW

  30. 30
    Posted by Guest | September 8, 2011 at 9:43 PM

    BAC's favorite kind

    - Countrywide/Merrill Lynch

  31. 31
    Posted by stan o'neil | September 9, 2011 at 1:50 AM

    get rid of the crooks at ML would be a start, that would be everyone who is above about AVP level…lots and lots of deadweight with zero integrity there boy

  32. 32
    Posted by sladd | September 9, 2011 at 6:58 AM

    Tom Montag ia about to give 40,000 BofA employees a shitty deal….

    Hopefully the SEC will charge him soon for being a shitty supervisor and manager at GS…..

  33. 33
    Posted by johnny johnny | September 16, 2011 at 10:34 PM

    Flagrant Nepotism and cronyism. I do not see many VP and above being layed off.

  34. 34
    Posted by johnny johnny | September 16, 2011 at 10:35 PM

    Give up your golden parachutes

  35. 35
    Posted by The appraiser | September 22, 2011 at 5:24 PM

    Left a week ago.. Worked a redundant job with no leadership or respect. A tier 5 regional appraiser who was never allowed to do the job i was hired for. Waste of time and talent. i'm happily back at my own company again. Thanks for nothing.

  36. 36
    Posted by Dweezil | September 25, 2011 at 8:02 AM

    The paragon of unedrstnadnig these issues is right here!

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