Bank of America

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
1,900 jobs
Number of planned job losses
Job loss
Announcement Date
13 January 2009
Employment effect (start)
Foreseen end date

Description

Bank of America has announced that it is to cut 1,900 jobs in the UK. The jobs will be cut as the company integrates the Merrill Lynch business that it bought in 2008. As of 18 January 2009 the company has not announced when or at which sites these jobs will be lost, and it is not known how many jobs will remain in the UK.

For further information, see the EIRO report.

Sources

  • 13 January 2009: The Guardian

Citation

Eurofound (2009), Bank of America, Internal restructuring in United Kingdom, factsheet number 67822, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67822.