Bank of America Rumor: Plans for major job cuts

There has been more speculation regarding more job losses and Bank of America, Europe’s biggest credit card provider, is considering plans for major job cuts in card services, according to one well sourced rumor.

According to City Spy wild talk that around 1000 positions could be under threat. However those close to Bank of America say there is absolutely no truth to these rumors. So for the sake of BoA’s 5000 that this is true that the staff in card services in the UK, Ireland and Spain these t redundancies do not materialize.

It’s worth noting that when BoA released its third-quarter earnings a month ago, it admitted: “The net loss in Global Card Services widened to $1.0 billion [in the three months to September] as credit costs continued to rise amid weak economies in the US, Europe and Canada.

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