Layoffs Watch '11: Bank Of America

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Cuts apparently continued at Moyhinan's House of Fun yesterday.

Prime brokerage in the US was hit hard yesterday......sales, cap intro, client service, on-boarding, compliance, technology. Same in Europe.

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Layoffs Watch '12: Bank Of America

The aforementioned layoffs are said to begin this week. "FYI: BofA cuts are expected to start Thursday, thought to be 20% across the board in IB. All levels affected but with 2nd and 3rd year VPs who are not going to make director, of which there is a glut, hit especially hard. If you're a first year VP (without acct coverage responsibilities), you're probably going into the superpods."