Bank of America to cut 12,500 jobs

Published: 6 April 2004 y., Tuesday
Approximately 30 percent of the cuts will come through attrition, the Charlotte-based bank said, with the remaining jobs - about 8,750 - being eliminated through layoffs and vacancies that won't be filled. The cuts will begin this month, as the company starts to notify affected employees from its combined work force of 181,000. Several workers leaving Bank of America's headquarters in downtown Charlotte Monday evening were not aware of the company's plans. Loan officer Veronica Dawkins said she had not received any word from the company. The completion last week of Bank of America's merger with Fleet created the nation's No. 3 bank with assets estimated at $966 billion. With about 5,700 branches, the new bank's footprint reaches from California through the South and up to New England. In assets, the bank trails only Citigroup and another planned megamerger between Chicago-based Bank One and J.P. Morgan Chase.
Šaltinis: sacbee.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Green jobs the key to a sustainable economy

The EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday. more »

Gas supply crises: better protection for householders

Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday. more »

Estonia joins the euro-family

Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency. more »

Deposit guarantee schemes – part 2

Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies. more »

Greener, more competitive farming after 2013

How should the EU's farm policy be reshaped and how should it be funded after 2013? more »

European Parliament ushers in a new era for bankers' bonuses

MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses. more »

The European Parliament's position on financial supervision

Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets. more »

Magnetic Europe: Big plans for tourism industry

New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy. more »

Commission gives details of who received EU funds in 2009

The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid. more »

€ 30 million EU support for the promotion of agricultural products

The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union. more »