Thursday, December 11, 2008

BAC Swings Ax Again

BBC NEWS | Business | Bank of America cuts 30,000 jobs

In another sign of the times... BAC cuts 30,000 jobs.

According to Jack Welch a corporation should cut the bottom 10% of the force periodically. This is about 11% of BACs worldwide force.

It will be interesting to see if this stock can recover at a faster or slower pace than the market.

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