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]

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13 Responses to “Layoffs Watch ’14: Bank of America”

  1. Guest says:

    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. Guest says:

    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. MFINGrad says:

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

    UBS MD

  4. H.R. says:

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

  5. guestie says:

    Say buh bye to Bella on your way out.

  6. klhoughton says:

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

  7. Tired Commuter says:

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

  8. Guest says:

    Is this New BAC or New New BaC?

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

  10. Ken Lewis says:

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