Layoffs Watch '12: Bank Of America
BofA may not yet be done implementing all the ideas Team Project New BAC came up with after “fanning out around the company to ask employees low-and high-level for ideas on [how to] reduce expenses."
"Supposedly the major strategic outlines of Project New BAC for the I-bank have been decided upon, with significant (i.e. WARN-worthy) cuts to go down circa April in context of a major realignment/reshuffling of coverage/product groups. Hence Moynihan's ominous comment during earnings that we should see the results of major savings, in range of $3 billion, around the 2nd half."