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More Job Losses -- This Time It's Bank of America

Posted By admin || 23-Jan-2009

Bank of America Corp. announced in a letter to the Texas Workforce Commission that there will be 85 job losses at a Dallas call center. The job losses are just one of the many actions Bank of America is taking to streamline its operations and save itself financially and avoid bankruptcy.

As most know, Bank of America has received a sizable bailout fund; but I suspect this fund won't be used to save jobs. We can expect Bank of America to take all actions necessary to save itself financially; because despite what the headlines may suggest this bank is truly is struggling after its "investment" in Merrill Lynch failed to payoff as expected.

Workers here in Dallas-Fort Worth should not become complacent as we witness job losses as these big companies such as Bank of America. Get prepared to see more job losses not just from Bank of America but other banks who have received bailout money and still struggle to stay afloat and avoid bankruptcy If you suspect a job loss at your company, do not wait until you receive the "pink slip."

We cannot say this enough. Assess your financial situation and consider bankruptcy if necessary BEFORE you face a job loss.

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