Reuters, November 2, 2011, Wednesday

Reuters

November 2, 2011, Wednesday

Reuters (full article)


Bank of America employees flood bank's rivals with resumes


The bank's efficiency program, called Project New BAC, aims to streamline a company bloated by years of acquisitions. But executives risk cutting too deeply or creating an unsettling environment for those who remain, said Beth Livingston, assistant professor of human resources studies at Cornell University.

"You get the survivor effect," Livingston said. "Everyone is on edge. There's a culture of fear that permeates the climate."