BankofAmerica reportedly plans massive layoff

[conjur]

http://money.cnn.com/2004/08/18/news/fortune500/bank_america.reut/index.htm

NEW YORK (Reuters) - Bank of America Corp. plans to lay off hundreds of tellers and other employees at Fleet bank branches, said a newspaper report Wednesday, citing documents it obtained and Fleet branch managers.

The layoffs will happen Wednesday and be effective immediately, the Boston Globe reported.

One Fleet manager informed of the plans estimated at least 1,500 people, or on average one per Fleet branch, might be affected by Wednesday's cuts, the newspaper said....

One per branch...sounds rather reasonable, I suppose.

 

[Crimson]

Sounds like a pretty minor layoff actually given the size of the institution.. but, saying 'massive' feeds your libbie agenda better. Massive to me would be closing 1/3 of their branches..

 

[Todd33]

Originally posted by: Crimson
Sounds like a pretty minor layoff actually given the size of the institution.. but, saying 'massive' feeds your libbie agenda better. Massive to me would be closing 1/3 of their branches..

Did you read the article, or just jump in to troll and flame?

Here is the title, from the website:

BoA reportedly plans massive layoff

Ya, foot meet mouth. Chump.

 

[alchemize]

I would concur that Crimson's statement is incorrect - I generally title my threads with the article title as well. I would also say that cnn's "massive" statement was a bit inflammatory - always whenver you have a bank acquisition/merger (or just about any aquisition/merger) you have layoffs.

 

[bozack]

Makes alot of sense, they just ate up Fleet and now have oversaturation in the area....

 

[Insomnium]

Originally posted by: bozack
Makes alot of sense, they just ate up Fleet and now have oversaturation in the area....

Doesn't really make that much sense, since the article states that hundreds of tellers will be laid off. Why? Because the lines at some of the Fleet branches aren't quite long enough? It makes sense to lay people off if there is significant overlap in the positions after a merger, that is, if there is all of a sudden an oversaturation of certain analysts or something. But tellers? No oversaturation there.

 

[dmcowen674]

Originally posted by: Crimson
Sounds like a pretty minor layoff actually given the size of the institution.. but, saying 'massive' feeds your libbie agenda better. Massive to me would be closing 1/3 of their branches..

Yea, you're not one of the 1,500 human beings affected so fk em, how many is enough to be "massive" 15,000, 30,000???

 

[bozack]

Originally posted by: Insomnium

Originally posted by: bozack
Makes alot of sense, they just ate up Fleet and now have oversaturation in the area....

Doesn't really make that much sense, since the article states that hundreds of tellers will be laid off. Why? Because the lines at some of the Fleet branches aren't quite long enough? It makes sense to lay people off if there is significant overlap in the positions after a merger, that is, if there is all of a sudden an oversaturation of certain analysts or something. But tellers? No oversaturation there.

don't know which fleet you go to here but there are no lines in any of the branches by me...

 

[dmcowen674]

Originally posted by: bozack

Originally posted by: Insomnium

Originally posted by: bozack
Makes alot of sense, they just ate up Fleet and now have oversaturation in the area....

Doesn't really make that much sense, since the article states that hundreds of tellers will be laid off. Why? Because the lines at some of the Fleet branches aren't quite long enough? It makes sense to lay people off if there is significant overlap in the positions after a merger, that is, if there is all of a sudden an oversaturation of certain analysts or something. But tellers? No oversaturation there.

don't know which fleet you go to here but there are no lines in any of the branches by me...

Oh but there will be :thumbsup:

 

[TuxDave]

I just recieved the BOA Credit Card that replaced my old Fleet CC. It's so pretty and colorful. Beyond that, doesn't affect me much.

 

[zephyrprime]

The article goes on to say that BOA "...plans 12,500 job cuts, or 7 percent of the banks' combined workforce, over two years". So this 1500 is just the first volley.

 

[bozack]

Originally posted by: dmcowen674


Oh but there will be :thumbsup:

even if there were it would have little impact on me as I do all of my banking electronicly why waste my time with tellers.

 

[conjur]

Originally posted by: Todd33

Originally posted by: Crimson
Sounds like a pretty minor layoff actually given the size of the institution.. but, saying 'massive' feeds your libbie agenda better. Massive to me would be closing 1/3 of their branches..

Did you read the article, or just jump in to troll and flame?

Here is the title, from the website:

BoA reportedly plans massive layoff

Ya, foot meet mouth. Chump.

Oh, that's just par for the course for one of ATP&N's most bitter partisan hacks.

Just ignore him.

 

[catnap1972]

Originally posted by: bozack

Originally posted by: dmcowen674


Oh but there will be :thumbsup:

even if there were it would have little impact on me as I do all of my banking electronicly why waste my time with tellers.

Translated from neocon'ese: "Doesn't affect me so the hell with everyone else"

 

[Red Dawn]

Why is this different from all the other mergers over the past 20 years were overlapping jobs have been eliminated?

 

[dmcowen674]

Originally posted by: Red Dawn
Why is this different from all the other mergers over the past 20 years were overlapping jobs have been eliminated?

Originally posted by: cougarls88

Translated from neocon'ese: "Doesn't affect me so the hell with everyone else"

It's not actually. It's the attitude of the Neocon Rich Elite that has come to the top that makes it more bitter these days.

Folks are not landing jobs like 20 yrs ago where they can land on their feet and the Elite don't give a crap. That's the difference. 20 yrs ago when the Elite created the situation of having to eliminate jobs they at least made attempts at helping and even understanding the impact on those that were loyal to them that they are letting go. Now they don't care if you will die.

It's a deplorable travesty to the what was a once prosperous and caring Nation to it's people. It's what made this Country strong, a bond like no other Country. Losing that bond is what makes this Country weak and not the Top Country to be in anymore.

 

[Crimson]

I'll stand by what I said about this being a massive layoff, but I admit I didn't see it was the Title of the article.