Bank of America - 400 layoffs

http://www.americanbanker.com/issues/178_121/bank-of-america-laying-off-400-from-mortgage-servicing-unit-1060094-1.html

The bank will lay off 411 Dallas-area workers from its Legacy Asset Servicing unit, the company said Monday. The layoffs will take place Sept. 30 and the workers affected will be offered severance pay and benefits, it said.
Bank of America created Legacy Asset Servicing in 2011 as a repository for defaulted residential mortgages, many of them subprime loans originated by Countrywide, the home lender it purchased in 2008. The unit handles loan modifications and resolves repurchase claims.
In a statement, Bank of America sai

And in the same breath:  2014: When the economy finally takes off

http://money.cnn.com/2013/06/24/news/economy/economy-recovery-2014/index.html?iid=HP_LN

 
But next year, economists foresee a convergence of several factors that could finally kick this recovery into high gear.
First on the list is the federal budget. After epic fights this year over the "fiscal cliff," the "sequester," and a bunch of other wonky stuff, lawmakers have finally managed to cobble together enough tax hikes and spending cuts to at least stabilize the country's credit rating.
Rising home prices are helping, too. Fewer Americans are trapped in underwater mortgages that leave them owing more on their home than the house is worth. Rising prices also boost the net worth of homeowners, adding to consumer confidence.