Bank of America Closing up to 600 Branches

[OverDone]

Source: Street

EO Brian Moynihan has plans to split the company's banking operations into consumer and commercial units, which will include up to 600 branch closings, according to Charlotte, N.C.-based WCNC News Channel 36.



Read more: http://www.thestreet.com/story/11242484/1/bank-of-america-to-close-600-branches-report.html?cm_ven=GOOGLEN

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Not that this is unexpected but its definitely shows you were the economy is heading for sure

http://www.dailyjobcuts.com

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[snappyturtle]

1. Between reading the two links I refreshed this page. I think this is big news...where is

everyone? The second link was particularly interesting. Headlines(titles) can really say a lot about the state of affairs, can't they? Thanks for posting.

[dkf]

2. Well I'm sure some will be thrilled at the thought of an evil bank having to downsize.

[Fuddnik]

6. Look at as radition treatment for a cancer.

Shrink the tumor.

Just think of all the little old widows who won't be harassed 48 times a day during their husband's wake.

Some more assholes who deserve to lose their jobs, are the people who sit in cubicles and deny legitimate health insurance claims all day long.

[sharp_stick]

3. BofA is kind of like Pfizer

they kept buying other companies to try to bump up the earnings. Finally it get's to the point where they're so damned big they can't afford to keep it going. Then the cuts start and everyone, except upper management of course, get completely screwed.

IMO we really have to do something to stop these companies from getting so large in the first place.

[OverDone]

14. Sorry but you forgot

One thing, Too Big to Fail. :-/

[Name removed]

4. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Sherman A1]

5. That will be a bunch of jobs lost

Not a good thing at all.

[bikebloke]

7. It must be bonus time

For the executives.

[Supersedeas]

11. someone has to make the tough calls--when do the foreclosures against their own employees begin

[SpiralHawk]

8. The bigger they come, the harder they fall. One and all.

"Well you tell me apple pie up in the sky
the day that I die...

Jimmy Cliff on Youtube:
http://www.youtube.com/watch?v=xGE4dnrPPZQ

[aquart]

9. Honestly, the insane proliferation of bank branches was my first clue

that something was terribly wrong with the economy.

[christx30]

20. I know, right?

Everywhere in town there is new construction on new bank branches. My wife turned to me and said "Um... I thought banks were having trouble these days?"

[SoapBox]

10. Yup! BIG bonus coming for the upper mis-management!

...thousands out of work...properties left empty...but the Crooks and Creeps will get millions in bonus money.

This country is screwed up.

[truthisfreedom]

12. Hmm. Properties left empty. Turn them all into food shelves.

And soup kitchens.

[OverDone]

13. True

You got people starving try to make $5000 a year and some of theses guys make that a minute

[Vidar]

15. Glad they're hurting, but I'm sorry about the job losses.

[FarCenter]

16. Did they rationalize the BAC and Countrywide offices already?

There were probably a lot of Countrywide offices that were close to Bank of America offices.

They also need to close redundant Merrill Lynch locations.

[sarcasmo]

17. Don't be surprised if this is on orders from Buffet.

[Harmony Blue]

18. I don't think this inspires investor confidence

Banking business is all about confidence level and perception. Yes competence is important too, but lets face it, what BoA is proposing to do will really have its current customers considering going elsewhere, and it is not the other big three. Don't be surprise to see people moving their money to credit unions now.

[sarcasmo]

19. They will call this a reorganization and stock will go up.

[CarmanK]

21. The BANK OF SKANK lost its reputation and goodwill!

It deserves to go to reorg. It's arrogance and dishonesty in consumer services was unchallenged. I don't like to see people lose their jobs, but those same people help bring the bank down. They were the face of the bank which was mean spirited, greedy and disrespectful of customers.

[alarimer]

22. I am through with banks.

I just switched to a local credit union. Even if I move, I will not be changing banks again.

[sarcasmo]

23. Did the same thing and the credit union we go to doesn't even use bank slips

and has much friendlier employees than BOA.