BofA to start filling out the pink slips...

Experts are estimating that with Bank of America’s recent purchase of Merrill Lynch, approximately 27,000 employees will be sent packing(nearly 10% of the total workforce). Although most of the slashes will be to back office operation reps, The Charlotte Observer reports that a decent chunk of those possibly heading to the unemployment line are the investment bankers, simply because Merrill has a better known name in the business. BofA is aiming for a savings of $7 billion, so BofA employees better brace themselves for what the grim future may hold.