Is Getting Laid Off From Wachovia Bank Really Much Worse Than Having To Admit You Work At Wachovia Bank? Several Of Wachovia Bank's (Former) Employees Will Soon Find Out

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Following an 80 percent drop in third quarter investment banking profits, Wachovia Bank has asked about 200 workers from its corporate and investment banking units in Charlotte, North Carolina and New York to stop coming in to the office. Apparently the severance package for first year analysts is 85K. Will 93-percent-decline-in-profits-from-investment banking-and-sure-to-be-letting-at-least-one-million-employees-go Bank of America do better? We'll let you know (or you'll let us know. Either way, information will be transmitted.)
Wachovia starts investment bank job cuts [Reuters]

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