If Bank of America indeed cuts 16,000 jobs by the end of the year as The Wall Street Journal reported, it will mark a significant quickening of its job-cut pace.
The bank did not confirm any job target on Thursday. The target in the charts comes from the figures cited in the Journal.
It is unclear how many of these jobs would be in Charlotte. The Journal cites likely job cuts in consumer banking and mortgage origination, divisions that have workers in the city.
Hover over the line for more information.
Here's what the quarterly percentage change looks like:
Thursday, September 20, 2012
Bank of America job cuts in two charts
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4 comments:
There are 50,000 people that are working in Legacy Asset Services, essentially dealing with the Countrywide bad mortgages. As that portfolio shrinks, so will LAS.
Anon @ 6:32
Yes LAS will shrink with a lower portfolio. I'd imagine that would impact vendor associates over time with a shrinking portfolio. But these headlines make it seem like internal FTE as the recipients of job cuts, not the vendors. Charlotte has a significant LAS presence.
50K is the internal LAS number. Vendors are additional
The country has turned, the media and the government have done so much damage... Family values, good judgement are out the window... we will see 20% unemployment in the next year... Way to go Obama!!
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