• 20 Sep 2010 at 3:10 PM

Layoffs Watch ’10: BofA Merrill Lynch

By Bess Levin

According to Charlie Gasparino, those losing their jobs are miffed about getting cut prior to bonus season, if you can believe that.

Bank of America appears to be the first major financial firm to start cutting jobs as a growing number of analysts predict a Wall Street profit slowdown will pick up steam for the rest of the year, FOX Business has learned. The cuts are expected to be announced this week and will impact trading desks, which have been hardest hit by the recent profit squeeze among the big banks. People inside Bank of America are grousing that Montag is cutting staff now so as to deprive the unlucky employees year-end bonuses. The spokesman refused to comment on the bonus issue.

Bank of America Cutting Staff In Cap Markets Group [FBN]

Comments (7)

  1. 1
    Posted by Guest | September 20, 2010 at 8:35 PM

    I’m surprised this is still empty

  2. 2
    Posted by Guest | September 20, 2010 at 8:37 PM

    give it time…

  3. 3
    Posted by trojan | September 20, 2010 at 8:46 PM

    only Fox Business would use the counterintuitive phrase “a Wall Street profit slowdown will pick up steam”

  4. 4
    Posted by Skater_Tim | September 21, 2010 at 1:08 AM

    So about that recruiting event at Duke…..

  5. 5
    Posted by Pantico | September 21, 2010 at 12:08 PM

    BoA: Bank of A-holes…

  6. 6
    Posted by Doctorohboli1576 | September 21, 2010 at 3:18 PM

    It deja vu all over again, same shit happened in Oct 2007. Bitch Brille still has a job though, effin amazing!

  7. 7
    Posted by Ken_Lewis | September 22, 2010 at 6:21 AM

    cutting before bonus season is just wrong.

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