• 19 Mar 2014 at 11:45 AM

Layoffs Watch ’14: Bank of America

A small number of employees will be bidding the House of Moynihan adieu today.

Bank of America Corp. is cutting jobs today across co-Chief Operating Officer Thomas Montag’s global trading and investment banking divisions, according to three people with direct knowledge of the decision. The dismissals will affect fewer than 5 percent of employees in the units, said one of the people, who requested anonymity because the moves haven’t been made public.

BofA Said to Cut Jobs Across Montag’s Trading, Banking Divisions [Bloomberg]

13 comments (hidden to protect delicate sensibilities)
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Comments (13)

  1. Posted by Guest | March 19, 2014 at 11:57 AM

    This is general housekeeping, bottom 5% of performers. If you work in retail bank or mortgage div you may as well pack up your shit right now

  2. Posted by Guest | March 19, 2014 at 12:42 PM

    This is what happens when everyone gets in the same trade just cause the other guy is doing it thenthe rug gets pulled out from everyone. Times a million. Lehman is making 1.5B a quarter in sub prime, why aren't we doing that??

    UBS, Lehman, CS, Bear, AIG, Goldman, MS CEO's

  3. Posted by Montag | March 19, 2014 at 12:47 PM

    Watch your mouth pretending that kind of shit has anything to do with MY divisions.

  4. Posted by Lost Reader | March 19, 2014 at 12:47 PM

    uh, what?

  5. Posted by Guest | March 19, 2014 at 1:17 PM

    Jeff Macke?

  6. Posted by MFINGrad | March 19, 2014 at 1:49 PM

    We never got a watch when were laid off. I still wear my Invicta, keeps time well.

    UBS MD

  7. Posted by H.R. | March 19, 2014 at 4:03 PM

    Please leave your security badge, blackberry, lapel pin, name tag and spirit point vouchers with your manager.

  8. Posted by guestie | March 19, 2014 at 4:17 PM

    Say buh bye to Bella on your way out.

  9. Posted by klhoughton | March 19, 2014 at 5:42 PM

    This is the area that was responsible for Tom making more money than Moynihan, right?

  10. Posted by Tired Commuter | March 21, 2014 at 10:06 PM

    On the bright side, the long cold winter is over.

  11. Posted by Guest | March 21, 2014 at 10:07 PM

    Is this New BAC or New New BaC?

  12. Posted by Brokerage-Review.com | March 24, 2014 at 12:32 PM

    Banks had great profits last quarter. Why are they laying off employees?

  13. Posted by Ken Lewis | April 9, 2014 at 11:39 AM

    Looks like he just took a big dump in his pants!