Following Countrywide Financial Corp acquisition Bank of America sacking 12.5% workforce
Bank of America plans to axe 7,500 jobs as it is all set to acquire Countrywide Financial Corp. The value of the takeover is estimated to be $4-billion. The acquisition is believed to be over by next week. However, the bank said that this move wont affect its call center in Ottawa. Cuts will basically arise from the verticals like home equity, mortgage and insurance operations, which employ approximately 60,000 people or 12.5% of its total workforce. What astonished me, if they had resizing i
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