• 19 Mar 2012 at 10:52 AM

Layoffs Watch ’12: Bank Of America

By

Project New BAC continues apace.

“Cuts going down this morning in all areas of BofA equities. MDs and directors so far…The thought is that these cuts will not trickle through (at least this round) to junior folks. Looks to be a dollar savings target, not a body count issue.”

Comments (59)

  1. 1
    Posted by Guest | March 19, 2012 at 11:11 AM

    Why does Moynihan always looks like a toothless cartoon character?

  2. 2
    Posted by Soon Maybe | March 19, 2012 at 11:18 AM

    "…..At Bank of America, our most important asset is our people. We recognize that talented, engaged and satisfied employees are the foundation to achieving our vision to become the world's finest financial services company. The Global Human Resources team is focused on making Bank of America the best place for people to work by creating an environment where all employees have the opportunity to achieve their goals. The team aligns human resources strategy to the business strategy, enabling the company to make opportunity possible for customers and clients through attracting, developing and retaining a world-class workforce….."
    http://careers.bankofamerica.com/hr/

  3. 3
    Posted by Zoroz | March 19, 2012 at 11:23 AM

    I am hiring a butler and a gardener for three of my properties.
    - Angelo Mozilo

  4. 4
    Posted by derp | March 19, 2012 at 11:30 AM

    mmm… trickle trough

    -Wilbur

  5. 5
    Posted by Guest | March 19, 2012 at 11:52 AM

    Sure getting paid very little sucks, but on the bright side, you're not a layoff target in a "dollar savings" environment.

    - UBS 'Every Cloud has a Silver Lining' Quant

  6. 6
    Posted by Ich bin ein Hakuna | March 19, 2012 at 11:54 AM

    Inbreeding may result in a far higher phenotypic expression of deleterious recessive genes within a population than would normally be expected. As a result, first-generation inbred individuals are more likely to show physical and health defects, including:

    Working for banks that lack foresight
    Increased genetic disorders
    Fluctuating facial asymmetry
    A strong inkling towards firing people
    Loss of teeth
    Smaller adult size
    Loss of immune system function

  7. 7
    Posted by S. Berlu | March 19, 2012 at 12:18 PM

    How, if at all, does this impact the availability of female analysts in Italy for Bunga Bunga parties?

    - Silvio Berlusconi

  8. 8
    Posted by CME | March 19, 2012 at 12:22 PM

    no one dicks around with individual issues anymore.

  9. 9
    Posted by dumb | March 19, 2012 at 12:25 PM

    "trickle trough" – didnt they already get ride of all the VP's and below?

  10. 10
    Posted by Guest | March 19, 2012 at 12:55 PM

    Yeah… "looks like." That's it.

    - BAC Public Image Consultant

  11. 11
    Posted by Beerio | March 19, 2012 at 1:10 PM

    I wonder how often "Bank of America" and "bummers" appear together as tags on a post. I'd imagine it's something like a 90% correlation….

  12. 12
    Posted by Senior Bodily Apprentice | March 19, 2012 at 1:10 PM

    It is the second directive.

    We must sacrifice them to save ourselves.

    Make it so, all you numbahs.

  13. 13
    Posted by Crazy Uncles | March 19, 2012 at 1:15 PM

    Also, who stole this guy's lips? I mean, I've heard of stealing some little kid's nose but I think BriBri's Uncle should have given his lips back.

  14. 14
    Posted by anonymous | March 19, 2012 at 1:19 PM

    WANTED: impacted desks and those unfortunatey rif'd

  15. 15
    Posted by Hakuna Matata Guy | March 19, 2012 at 1:27 PM

    I have fans now!?

  16. 16
    Posted by Everyone | March 19, 2012 at 2:03 PM

    No.

  17. 17
    Posted by Hakuna Matata Guy | March 19, 2012 at 2:53 PM

    Oh well,

  18. 18
    Posted by Anon | March 19, 2012 at 3:01 PM

    Glad I don't work there. Its like they created Frankenstein, but now bits are falling off

    - Citibank MD

  19. 19
    Posted by DB Old Timer | March 19, 2012 at 3:08 PM

    Can someone at least post a picture of wideclops for God's sake?

  20. 20
    Posted by Anna Gristina | March 19, 2012 at 3:21 PM

    I'm still hiring.

    Anna Gristina

  21. 21
    Posted by guest | March 19, 2012 at 4:30 PM

    Wideclops works at Morgan Stanley.

    -DB old timer who can recall details

  22. 22
    Posted by Huésped | March 19, 2012 at 5:39 PM

    My choice would have been 'tickle trough' but Wilbur would probably consider that beneath her.

  23. 23
    Posted by Huésped | March 19, 2012 at 5:44 PM

    Equities? Poor choice. Always go with IR and PWM. Barclays demonstrated that this rule applies to Europe as well.

  24. 24
    Posted by Guestest | March 19, 2012 at 7:06 PM

    "Looks to be a dollar savings target, not a body count issue"

    Finally, BofA is honing in on the solution…

  25. 25
    Posted by Merrill Lynch drone | March 19, 2012 at 7:09 PM

    Bank of America sucks Donkey Balls….I lost my spirit points! Scumbags!

  26. 26
    Posted by Douchebag says what? | March 19, 2012 at 10:48 PM

    "Well, we didn't like being small," Hugh McColl (who was the bank's CEO before Lewis) told Stahl. "I mean, there's nothing really attractive about being small."
    February 11, 2009

  27. 27
    Posted by Mandingo | March 19, 2012 at 10:49 PM

    Are Wideclops' eyes so wide that I would easily recognize her amongst a large crowd?

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