Layoffs Watch '14: Bank of America

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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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