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Bank of America to slash up to 35,000 jobs

Bank of America plans to shed up to 35,000 jobs worldwide over the next three years following the planned merger with Merrill Lynch.

The bank is predicting job losses of between 30,000 and 35,000 over the next three years. A final number won’t be determined until early next year.

The company says the job cuts reflect the pending merger with Merrill Lynch and the current weak economic environment.

Bank of America is in the process of working out where the job losses will be applied, but says reductions will come from both companies and will affect all lines of business.


HBOS takeover threatens jobs, warns MSP

A Scottish MSP has warned that HBOS shareholders’ rubber-stamping of the new Lloyds Banking Group on Friday has set the scene for the loss of up to 40,000 jobs.

Abbey and Trigold merge IT systems

Abbey for Intermediaries and Trigold have merged their back office IT systems to allow brokers to place applications directly with the lender.

Repossessions may hit 75,000 in 2009

Repossessions may rise to 75,000 in 2009. The Council of Mortgage Lenders confidentially briefed MPs about the figure last week, reports the BBC.


Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


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