It's a topic that reemerges in the national conversation every four years -- outsourcing. And this year, the corporate policy of sending jobs overseas, also known as "offshoring," has been front-and-center during the 2012 campaign, in large part because one candidate, Republican Presidential candidate, Mitt... Read More »
Bank of America is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues, The Wall Street Journal reported on Wednesday.
The job cuts would put the second-largest U.S. bank a year ahead of schedule in eliminating 30,000 jobs under a program... Read More »
By Mitch Weiss and Pallavi Gogoi of AP, with AOL Jobs
CHARLOTTE, N.C. -- Four people were arrested Wednesday as they tried to force their way into the annual Bank of America shareholders' meeting in Charlotte. Police used a new ordinance to declare the gathering an extraordinary event subject to special... Read More »
For four years, Shelly Flood says she was an excellent employee at a Maine branch of Bank of America. Her partner, Keri Flood, a cleaner at the bank, also received glowing reviews in the two years she worked there.
But when the bank discovered that they were lesbian partners, things changed "suddenly and... Read More »
Wall Street is facing a crisis even worse than the financial meltdown of 2008, reports New York magazine in a sweeping cover story. As pieces of the Dodd-Frank financial-reform act come into effect, revenues are plummeting, bonuses are getting slashed, and firms are selling off chunks of office space.
"If... Read More »
They had their lives mapped out. Having won and completed ultra-competitive summer internships at Lehman Brothers. They entered senior fall with a job offer in their pocket. But as the American financial sector crumbled in September 2008, and Lehman Brothers filed the largest bankruptcy in U.S. history, those... Read More »
Earlier this month, Bank of America announced 30,000 jobs would be cut, in addition to the 6,000 jobs already cut in 2011. Since the mass layoffs news broke, employees at Bank of America have continued to turn to Glassdoor to share their perspective on what it's like to walk the halls of the bank branches as... Read More »
Layoffs surged in September to their highest level in two years, a new report shows, as employers cut nearly 116,000 workers last month.
Reductions among the ranks of the military accounted for a large portion of September's job cuts, according the report, compiled by Challenger, Gray & Christmas, a... Read More »
Six digits on Wall Street usually has a very different meaning. This fall, the country's financial firms could lay off more than 100,000 workers in a wave of belt-tightening, reports say. Leading the charge have been the widely noted cuts to be put in place at Bank of America. The bank is set to implement the... Read More »
NEW YORK (AP) -- Bank of America is slashing 30,000 jobs as part of an effort to reverse a crisis of confidence among investors. It's the largest single job reduction by a U.S. company this year. Read More »
Bank of America plans to lay off 3,500 employees by the end of next month, and potentially even more than 10,000 total, according to The Wall Street Journal and The New York Times. It's the latest installment of the 30,000 to 35,000 layoffs the bank announced in 2008, which were to be staggered over three... Read More »
Bank of America Merrill Lynch is moving into the competitive space dominated by retail brokers Fidelity and Charles Schwab. That's a market segment of ordinary folks who need investment guidance but not the sophisticated advice and services that wealthy clients do. Read More »
Bank of America is making a move into the small business banking niche, although it's not the usual sandbox Big Banking plays in.
When that expansion of the Bank of America brand is completed, it will have 1000 new small business bankers. There's more. Loans will become more available for entrepreneurs who had... Read More »