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Wed May 16, 2012
Bank of America’s (BofA) acquisition of Countrywide Financial Corp. will be completed on July 1, 2008, and followed by a series of job cuts that are expected to take place over the duration of the next two years.
BofA said in a press statement Thursday that the company anticipates 7,500 positions will be eliminated as the two companies merge. Most of the layoffs will be related to jobs that overlap within both companies. Employees will begin hearing about initial staff reductions in the third quarter of this year.
Click here to read BofA’s full statement.
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