B of A giving out HUGE bonuses to Top People, but not paying the front line people.
The cuts continue...
Jan. 8 (Bloomberg) -- Bank of America Corp., the biggest U.S. bank, expects to pay record bonuses to some investment bankers while keeping the overall cost of incentive compensation below previous years, according to a company spokesman.
“Some people will be getting very good bonuses because they had a very good year,” spokesman Robert Stickler said. The overall pool “will not be a record,” he said.
businessweek.com 
Dec. 11 (Bloomberg) -- Bank of America Corp., the third- largest U.S. bank, said it plans to cut 30,000 to 35,000 positions over the next three years because of its acquisition of Merrill Lynch & Co. and the weak economic environment.
The final number of job cuts won’t be decided until early next year, the Charlotte, North Carolina-based bank said in a statement today. The companies together employ 307,000 people, including about 60,000 at New York-based Merrill Lynch. Bank of America spokesman Scott Silvestri said the “vast majority” of job cuts will come next year.
bloomberg.com |
