Bank of America will fire 7,5 thousand of “hypothec” employees
30 June 2008Within two years after purchase of largest in the USA hypothec company Countrywide Bank of America is going to reduce nearby7,5 thousand workplaces.
To reduction will cover about 3 % of all labor of the united companies. In the end of March nearby 209,1 thousand person worked in Bank of America and nearby 50,4 thousand employees worked in the Countrywide.
Reduction of the personnel will pass all over the country, basically, in those areas, where functions of the serving two companies are duplicated.
Countrywide has already reduced 11 thousand workplaces in connection with growth of losses under credits from the middle of 2007 and has limited delivery of brave loans, including low-rate subprime credits and loans with the floating interest rate.
