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BofA Hires Thousands — Abroad

By    |   Wednesday, 22 Apr 2009 09:39 AM

Bank of America is hiring, if you live in Latin America or Asia.

The Charlotte, N.C. bank took in $45 billion of American taxpayer dollars yet soon gave pink slips to American workers in return

With its acquisitions of Countrywide Financial and Merrill Lynch, the bank needed to hire more foreign personnel to staff increased offshore operations.

Bank of America’s employee roster in Costa Rica, Mexico, India, and the Philippines now stands at more than 14,000, according to the Charlotte Observer.

Foreign staffers now represent about five percent of its employees, up from two percent in 2007. More banks are expected to send more jobs abroad to cut wages and other expenses as the weak economy persists.

American workers in the banking industry, consequently, will continue to lose their livelihoods.

Some U.S. legislators want that trend reversed. Rep. Sue Myrick (R-N.C.), secured House approval of a proposed bill, not yet passed, that prohibits government-funded banks from offshoring any new call-center jobs.

"I don't think it's unreasonable to demand that American workers are used to fill any new customer service jobs for the companies who are assisted with American taxpayer dollars," said Myrick in an address in January before the House.

The economic stimulus package does not ban banks it helps with loans and or cash infusions from hiring foreign workers.

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Bank of America is hiring, if you live in Latin America or Asia.The Charlotte, N.C. bank took in $45 billion of American taxpayer dollars yet soon gave pink slips to American workers in returnWith its acquisitions of Countrywide Financial and Merrill Lynch, the bank needed...
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Wednesday, 22 Apr 2009 09:39 AM
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