Bank of America Cuts 14,600 Employees in 2012 to Reduce Costs
http://www.moneynews.com/FinanceNews/Bank-of-America-bofa-job-cuts/2013/01/17/id/471858
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businessinsider.com
Summary: Bank of America cut of 14,601 employees for the profit. 5,400 people was cut in fourth quarter and it is the highest headcount in a year. About 3,000 people reductions are came from LAS. Bank of America, ranked second by assets among U.S. lenders, still has about 8,000 more employees than JPMorgan Chase & Co., the largest U.S. bank.
Opinion: My opinion is that the Americans are losing their jobs because of the profit. It is not good. The total people of the Bank of America is 267,190. Almost 15% of the people are fired. It seems this shows that the economy of USA is fallin down.
Related to our studies: We learned about the Labor in the United States. Labor movement rise to power in our studies but when I see this article, I think it is decreasing these days. It seems that the America is developing their economy, but still for that economy, some people are losing their jobs for the company's profit.
Opinion: My opinion is that the Americans are losing their jobs because of the profit. It is not good. The total people of the Bank of America is 267,190. Almost 15% of the people are fired. It seems this shows that the economy of USA is fallin down.
Related to our studies: We learned about the Labor in the United States. Labor movement rise to power in our studies but when I see this article, I think it is decreasing these days. It seems that the America is developing their economy, but still for that economy, some people are losing their jobs for the company's profit.
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