Reply by 101livescan on 6/28/08 7:37pm
Msg #253558
Re: If things keep going the way they are
For years I worked in corporate America jobs. They are all alike, as soon as things start to go south, they immediately reduce their "human capital" with several phases in their downsizing process. As soon as expenses climb over a certain percentage and revenues begin to slip, PINK SLIPS start flying. Sitting at the top right hands of several organizations, I witnessed first hand how each department is asked to reduce their headcounts by a certain percentage, and they are looking at "AGE", "COST OF BENES", "TENURE", and "SALARY LEVEL". If you make too much money and they can replace you with younger, fresher meat that commands less salary, well, you're on the list. The goal is always to back into profitability once more.
In BofA's case, it will be quite a job to become profitable in its acquisition of C/W. Of course, C/W can write off a lot of losses before they are actually acquired, quarter by quarter until the deal is done.
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Reply by JanetK_CA on 6/28/08 6:08pm
Msg #253544
<<...in locations across the country “in instances where the two companies have significant overlap.” >>
There is probably a good bit of "redundancy" between the two. Don't know if reduced business volume will still be a factor, I'm sure B of A will do whatever possible to increase efficiency and try to squeeze as much value out of their acquisition as possible.
It'll be interesting to see how that effects operations. I saw another thread here about the size of packages. I'd love to see the CW packages become more like B of A packages. They have been among my favorites. Simple, reasonably sized, one notarization. I'm not holding my breath, though!
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