Layoffs Watch '10: BofA Merrill Lynch

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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]

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Layoffs Watch '12: Bank Of America Australia

The House of Moynihan has said goodbye to a bunch of employees down under. Bank of America Merrill Lynch has begun a new round of job cuts in Australia, a person familiar with the matter told Deal Journal Australia, becoming the latest investment bank to cut costs amid light deal flow and sluggish equity markets due to the stuttering global economic recovery. Fewer than 10 staff from the bank’s equities sales and trading division have been let go, the person said, without elaborating further. Bank of America Merrill Lynch Cuts Staff in Australia [Deal Journal]