BofA Is ‘Dumbsizing’
- Share via
* Re: “Bank of America Will Cut 10,000 Additional Jobs” (Business, July 29): You reported that BofA’s massive new layoffs will translate into a total of 35,000 job losses since the bank merged with NationsBank Corp. just two years ago. You also wrote that, of the $600 million BofA expects to “save” through this carnage, “$25 million will be spent to burnish the bank’s brand image.”
I believe this is what might be called a self-defeating strategy. Or, in the more economical words of the analyst you interviewed: “dumbsizing.”
MICHAEL KATZ
Berkeley
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
