Thursday, June 16, 2016

Bank of America axe hovers over thousands of retail jobs

Image result for bank of americaAs many as 8,000 more jobs are set to go at Bank of America's consumer arm as the digital banking revolution gathers pace and reduces the need for back-office staff and bank tellers.

The biggest US retail bank by deposits also plans to add sales staff — including mortgage loan officers, small business bankers and personal investment advisers — as part of its efforts to improve revenues.

Even so, the overall headcount is expected to decline by several thousand as the number of consumers who visit branches falls steadily.. . . more

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