Bank of America to lay off 7,500 after Countr…

Some breaking news out of
Bank of America: The company plans to get rid of 7,500 employees after it consummates its deal to buy Countrywide
Financial. That’s expected to happen July 1 now that Countrywide shareholders have voted in favor of the deal.
Personally, I think this is one of the worst deals in the history of modern banking — right up there with Wachovia buying Golden West Financial or First Union buying The
Money Store (and merging with CoreStates, for that matter). But so be it.