Course Project Proposal
DeVry University – Keller Graduate School of Management
MGMT591 – Leadership and Organizational Behavior Overview of Organization
The organization that will be the topic of discussion for my final project paper is Bank of America Corporation. Bank of America Corporate is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina. Bank of America consist of eight Lines of Business that operates the entire company with over 300,000-employee population across their global footprint. The Lines of Business Bank of America has operations in more than 40 countries across the globe – Europe and the Middle East and Africa (EMEA), Asia Pacific (AsiaPac), United States, Canada and Latin America. Bank of America Corporation provides people, companies and investors the financial products and services they need to achieve their dreams in their financial lives. The eight Lines of Business that Bank of America operates as are: Global Consumer & Small Business Banking, Global Banking & Markets, Global Commercial Banking, Global Wealth & Investment Management, Financial Advisors, Global Technology & Operations, Corporate Staff & Support and Mortgage.
Bank of America planned to eliminate approximately 30,000 jobs by the end of 2013, largely in consumer and technology areas as company-wide cost-cutting initiative due to declining revenues. The decline in revenues was caused by the 2010 mortgage related losses. With the news of job cuts across the company, the employees are uneasy due to the instability of their position. Bank of America continues to work diligently to maintain employee satisfaction, however is losing the battle because the majority of its employees are feeling insecurities about the their jobs.
The department processes about 1.5 million transactions per day from the various Banking Centers,