Expect continued substantial headcount reductions at Bank of America (BAC), says CEO Moynihan....


Expect continued substantial headcount reductions at Bank of America (BAC), says CEO Moynihan. "It's really based on demand," he says, noting flat revenues amidst the flat yield curve and flat economy. "When I talk tour clients ... they don't expect to hire a lot more people."
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Comments (4)
  • MexCom
    , contributor
    Comments (3056) | Send Message
     
    Got to have a forward view. It could be that he is talking fear to his people to get them to work harder. With these people fearful of losing their jobs productivity should increase and along with the amount of stimulus being pumped out toward the housing sector, the economy should rebound and all ships will rise.
    11 Oct 2012, 06:59 AM Reply Like
  • Ted Bear
    , contributor
    Comments (676) | Send Message
     
    Why don't they just raise fees again and drive away what's left of their dwindling customer base?
    11 Oct 2012, 06:59 AM Reply Like
  • acesfull
    , contributor
    Comments (407) | Send Message
     
    I would suspect that internet banking is putting a dent in brick and mortar branches. Its a lot easier to do business in front of the PC rather than run down to the bank branch. Probably a big reason for bank branch closings.
    11 Oct 2012, 07:07 AM Reply Like
  • methaide
    , contributor
    Comments (10) | Send Message
     
    Long term and being patient I would be positive.
    Problem for older poeple no dividend income
    11 Oct 2012, 05:35 PM Reply Like
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