BOA and Merrill closer to seal a merger … this is what lehman should have done a few weeks back once it knew there was a bulls eye on its back …
What will happen to their employees? Do you guys think they will axe jobs in both IB?
i was waiting for a nice severance package. yay!
unfortunately employees are the ones who suffer here … there will be an immediate plan to cut costs to make this deal work … if you work in any supprt function - expect the axe. this really sucks for so many people. ugly. All companies are retrenching right now … and cost cutting is part of that for everyone, but more pronouced for the big IBs right now
The Edge Wrote: ------------------------------------------------------- > unfortunately employees are the ones who suffer > here … there will be an immediate plan to cut > costs to make this deal work … if you work in > any supprt function - expect the axe. this really > sucks for so many people. ugly. All companies > are retrenching right now … and cost cutting is > part of that for everyone, but more pronouced for > the big IBs right now Edge, a friend of mine works as analyst in the Corporate department of BofA. Do you think he will be at risk?
are any new BAC i bankers who just started a month ago in peril??? I am talking about new MBA grads…?
comp_sci_kid Wrote: ------------------------------------------------------- > i was waiting for a nice severance package. yay! CSK, you with MER? If so, sorry man - hope things work out for you soon, you got the fire in belly!
strangedays (so apt for this time and place) - no one has any idea and there could be so many factors that could play into this kind of decision … in many cases the company that is doing the ‘take over’ will have the upper hand and will command the leading roles … so that is one plus for your friend … then other factors come into effect - budget cost cutting that is going every where … is he too expensive, all that political crap … I hope your friend survives this merger … but no one ever knows … make sure you have a cushion to ride this storm …
woo - the merrill’s board is now in the process of approving the $29 per share … it’s happening …
CFAAtlanta Wrote: ------------------------------------------------------- > comp_sci_kid Wrote: > -------------------------------------------------- > ----- > > i was waiting for a nice severance package. > yay! > > > CSK, you with MER? If so, sorry man - hope things > work out for you soon, you got the fire in belly! yeah i am with MER. Will be a fun week!