BofA employees flood bank's rivals with resumes

Reuters ^ | 2011-11-02 | Rick Rothacker

[rabscuttle385]

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp employees are flooding rival companies with resumes as a major cost-cutting program gets under way at the second-largest U.S. bank.

Competitors say they are getting an influx of calls, emails and LinkedIn connection requests as the bank embarks on a plan to slash 30,000 jobs over the next few years. The employees are scouting jobs in retail, commercial and investment banking, bankers and recruiters said.

"It's definitely picking up," said a senior executive at a rival consumer bank.

[Sacajaweau]

I go into my BOA a couple times a week...I like the ladies there and hope I am helping to keep their jobs.

[rllngrk33]

Maybe I’ll close my Bank of Amigo credit card now that I don’t need it to help their slide into bankruptcy along. I wonder if keeping it open with a zero balance be more productive?

[scooby321]

My sister changed to Bank of Amigo a few years ago. I stay with my same old nameless Bank for 30 years.

She got into trouble with the IRS and not the brightest person in the room.

She called me and said BOA isn't lending money can I call my bank for her. ( She even asked me if she should tell them she needs to pay the IRS. I told her only Obama would loan anybody money with a IRS bill).

[max americana]

BOA is scum but I did transactions for my brother when I had power of atty for him, and they treated me great. The employees that I came in contact with were A+. I wish them well.

[grey_whiskers]

Whoops, it sounds like there's about to be a whole lot more of those "jobs Americans just won't do."

I wonder if Bank of America Amigo is going to hire a bunch of illegal aliens to do the work? Or are they just going to send the jobs offshore to India?

Cheers!

[Cronos]

They are overstretched in the consumer banking and home-loan sectors, so those will be jobs that will be eliminated. Not sure about their prowess in investment banking. They’ve already outsourced back-office and IT support to India, so these 30,000 aren’t going there imho

[cynwoody]

BOA is scum but I did transactions for my brother when I had power of atty for him, and they treated me great. The employees that I came in contact with were A+. I wish them well.

http://en.wikipedia.org/wiki/Cognitive_dissonance

Their bill-pay works flawlessly. And the few times I've interacted with their people, the results were completely positive. (I didn't choose them. Over the years, they acquired the banks where I had accounts.)

[kearnyirish2]

Unfortunately for these employees many other people with banking experience have been looking for those same jobs for years; the combination of bank mergers and outsourcing has led to a grim employment outlook for that sector.

A local bank branch I use (part of a large bank) has few Americans working in it; mostly Asians from the sub-continent, doing the work Americans won’t do for $3 per hour. The manager seems to be eastern European; her English is almost impossible to understand. I’m sure they’re all here legally; I don’t know why.