Brian Moynihan: There Will Be Layoffs

He's not sure who and he's not sure how (many), but apparently cuts are a comin' in 2016.
Author:
Updated:
Original:

Bank of America Corp., the lender that cut more than 10,000 jobs last year, will reduce the number of employees in 2016 as it seeks to lower costs amid declining revenue, Chief Executive Officer Brian Moynihan said. “We took down the headcount by 2,000 in the fourth quarter,” Moynihan said Thursday in a Bloomberg TV interview from the World Economic Forum in Davos. He declined to say how many jobs would be cut this year, “but it will be lower than it is now.” [Bloomberg]

Related

Layoffs Watch '16: Bank Of America Giving Traders The Ax

The cuts are said to be going down in the U.S. circa now.

Layoffs Watch '16: Bank of America Not Done Axing People

Brian Moynihan casually mentioned future cuts to shareholders today.

Layoffs Watch '16: Goldman Sachs

The House of Lloyd is making cuts.