Bank of America buys Merrill for $50 billion.
“At the same time, a merger between Bank of America (BAC, Fortune 500) and Merrill Lynch (MER, Fortune 500) will also “inevitably result in more layoffs,” said John Challenger, chief executive of global outplacement firm Challenger, Gray & Christmas, adding to the tens of thousands of layoffs that have already occurred this year on Wall Street.” – CNN MONEY
HP announces 24,600 layoffs in wake of EDS acquisition.
“HP chief Mark Hurd says that unless the combined companies can operate efficiently, they can’t grow.” – computer world
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