BofA customers are going to hurt on this one

[DKSuddeth]

$25 million for 3 months work

After less than two months on the job, Bank of America Corp.'s president on Monday announced plans to resign next month, and he'll take a $25 million severance package with him.

The Charlotte company said Monday that Eugene McQuade, 55, plans to resign June 30 to pursue "new challenges." He previously had been president and chief operating officer at FleetBoston Financial Corp. before helping engineer the April 1 merger with Bank of America.

The departure followed a tradition of executives from acquired banks leaving shortly after Bank of America seals the deal, analysts said. McQuade is the highest-ranking Fleet executive to leave so far.

 

[5stringJeff]

Or they could pay 25,000 employees $1,000 each...

 

[acludem]

I can never understand it when companies say "we have to lay off workers to stay competitive" If you are hurting that damn bad then cut the salaries of some of your fat cat executives and save a few jobs.

acludem

 

[Avatar4321]

Looks like i need to tune up my application because a nice job has opened up.