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Bank Of America Got No Love For The Little Lewises

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As you may have observed, a lot of heated emotion surrounds the whole BAC/MER deal, Of late, we've been barraged (in a good way!) by emails blistering with anger and a need for revenge, or at least the catharsis associated with letting it all out on the internet (ex. "Thought you'd be interested in my side of the story which is: F that hick Lewis. He wouldn't know what a commode on legs if it was sitting on his face. --J. Thain"). While we would never suggest you use Dealbreaker in lieu of professional counseling, as a full-service site, we must give voices to those who cannot be heard, like a human rights watch group or what have you. If anyone else has a message they'd like to more widely disseminate, send it our way. From the mailbag:

So far, BofA has laid off almost all of its 28 sales and trading first year analysts (5 or 6 remain, some of their desks haven't been through the "deselecting" process.)
For a bank that talked a lot in training about the strength of their "junior pipeline" - they sure don't actually give a shit. This includes firing analysts who were hired through on-campus recruiting programs at Princeton, Georgetown, UNC, Yale, etc.
Incoming analyst class, beware!
-a former member of the BofA "junior pipeline"


Layoffs Watch '12: Bank Of America

On the one hand, Brian Moynihan et al plan to cut staff next month, which hurts. On the other, they've been firing off warning signals that employees may want to explore their options elsewhere, so that's nice. "Ahead of expected cuts at the House of Moynihan in the Apr-May timeframe, a lot of juniors are being pulled into conference rooms and told it might be in their interest to "reach out and have a chat" with other groups. Reshuffling and reallocation are well underway. No rhyme or reason as far as we can tell regarding why some analysts and associates are being nudged and others aren't (some top bucketed guys got nudged, and some bottom feeders got nudged as well)."