BofA Hands Sallie Krawcheck $6 Million Severance After Ouster
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Bank of America Corp., the lender seeking to trim expenses by eliminating at least 30,000 jobs, will pay former wealth-management division head Sallie L. Krawcheck $6 million after her dismissal last month.
That sum includes one year of her former salary, or $850,000, and a one-time payment of $5.15 million to be awarded in 2012, the Charlotte, North Carolina-based bank said yesterday in a filing. Joseph Price, whose position was also eliminated, gets a $5 million package, the bank said.