Jul 28 2009
Bank of America Plans to Close Approximately 600 Branches
An article today titled ‘Report: BofA planning to cut 10 pct of branches’ says the Wall Street Journal reported on Tuesday that the Bank of America CEO said he is planning to shrink the bank’s 6,100 branch network by about 10%. This would amount to closing about 600 branches, obviously with related job losses being an undisclosed multiple of that number. This is not good news from a job loss point of view and hence, at least in my view, not positive in the context of U.S. economic recovery.
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