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Layoffs Watch '09: BAC

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Gird your loins, Bank of Amerillwiders. From the mailbag:

Thirty percent of legacy US Trust, legacy BAC Private Bank, and legacy Merill Private Bank associates nationwide to be axed tonight through Friday.

Cuts began this afternoon as regional/city executives were shown the door. The entire Private Wealth Management line of business is affected, not just legacy Merill. All employees are requested to be at their desks at 8:00 tomorrow morning and "management will be present."