Bank of America – Releasing 30,000 to 35,000 employees

Today, Investorguide.com released a story about Bank of America’s decision to axe a series of positions however it won’t necessarily affect all branches, divisions or enterprises.  B of A plans to release employees, as indicated in a statement after the market closed on Thursday afternoon (12/11/2008), veterinarians should not confuse Bank of America’s statement as being directly tied to future lending at Bank of America Practice Solutions a specialized division which provides loans to veterinary medical professionals at this time.

The job cuts are going to be spread over the next three years with the most cuts occurring in 2009. Job cuts will be coming from all sections and all divisions of the company, as some equities analysts have already been dismissed. Severance pay was mentioned to be part of the package for employees that are to be laid off and unable to find another position. As the third-largest bank in the nation, the company currently employs 307,000 people including 60,000 at Merrill Lynch, according to the story at www.investorguide.com.

Staff at Veterinaryloans.com contacted Melisa Edwards, Western Regional Manager, Veterinary Division, Bank of America Practice Solutions on Thursday.  During that conversation, Ms. Edwards indicated that it is essentially “business as usual” for the veterinary lending division.  “We are funding loans in December, January, February and so on….” she said.

If new information materializes, www.veteinaryloans.com will update this story.