Like a Bull to the Slaughter
The buy-outs of Wall Street stalwarts Merrill Lynch and Lehman Brothers by Bank of America and Barclays may have been a fire sale, but they go some way towards protecting the businesses and staff of those firms. While there are certain to be redundancies, the takeovers will hopefully prevent them from reaching bloodbath proportions-even though Tabb Group predicts that the combined Bank of America and Merrill Lynch will cut between $1.5 billion and $2 billion in staff and IT spend.
The impact on
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