The ink isn't even dry on the deal, but Bank of America Corp. is planning to slash jobs when it completes its acquisition of Countrywide Financial Corp., one of Ventura County's biggest employers.

Bank of America announced plans Thursday to eliminate about 7,500 employees nationwide over the next two years from the two companies' merged operations, a day after Countrywide shareholders approved the estimated $2.8 billion takeover. The all-stock buyout is expected to close Tuesday.

Calabasas-based Countrywide has an estimated 50,000 workers in the United States, while Charlotte, N.C.-based Bank of America employs more than 209,000 people.

In late 2005, the mortgage lending company employed more than 6,000 people in various operations in Simi Valley, Thousand Oaks, Westlake Village and Calabasas. The company at that time was considered Ventura County's second-largest private employer behind biotech giant Amgen Inc. in Thousand Oaks.

Countrywide spokesman Rick Simon did not return calls Thursday. But Brian Gabler, director of economic development and assistant city manager for Simi Valley, said there are roughly 2,500 workers left in Simi Valley and 1,500 more scattered around offices in Westlake Village, Thousand Oaks and Calabasas.

The company has implemented a series of layoffs nationwide over the past year because of the severe housing downturn, reducing its workforce 10 percent from 55,923 a year ago.

The city of Simi Valley has been in contact with Countrywide officials, said City Manager Mike Sedell. His office has not received any federal WARN notifications under the Worker Adjustment and Retraining Notification Act, which companies must file 60 days in advance of mass layoffs.

"They're basically telling us no final decisions are being made," he said.

Sedell said the city will be working to make Countrywide and Bank of America realize the value of local employees.

"We're going to be doing everything we can to preserve those jobs here in Simi Valley," he said.

Scott Silvestri, a spokesman for Bank of America, said a final decision has not been made on the types of positions that are going to be eliminated or whether the company will close any branches.

"Most of the reductions will occur in instances where the two companies have significant overlap such as staff support," according to a Bank of America statement.

Silvestri said the cuts will be felt across the two companies' combined mortgage, home equity and insurance divisions. Notifications will go to affected workers in the third quarter.

"Eligible associates will be offered severance packages," the company said in a prepared statement.

Gary Wartik, economic development manager for the city of Thousand Oaks, reacted to the announced job cuts with caution.

"As I've mentioned before," he said, "a lot of the loan service jobs still need to be performed, and there are a large number of those in the Ventura County area. So, until the bank specifies where the job cuts are, I guess we'll have to wait like everybody else."

On Thursday, shares of Bank of America fell $1.80 to $24.81, while shares of Countrywide fell 16 cents to $4.42.