Bank of America Corp. plans to dismiss about 150 trading and investment-banking employees next week, according to people with knowledge of the matter. The dismissals stem from Chief Operating Officer Thomas Montag’s push to reduce expenses and are part of the firm’s periodic cull of low performers, the people said, asking not to be identified discussing personnel matters. [Bloomberg]
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 Is Putting Senior Staff Out To Pasture
The House of Moynihan is reportedly having some awkward conversations in the conference room today.
Layoffs Watch '16: Bank of America Not Done Axing People
Brian Moynihan casually mentioned future cuts to shareholders today.
Layoffs Watch '15: Bank of America Is Bidding 'A Couple Hundred' Bankers Adieu
Brian Moyihan will miss you all, every one of you.
Layoffs Watch '16: Goldman Sachs Tells Investment Bankers To Clean Out Their Desks
The cuts are on top of Goldman's annual axing of the 5% of employees giving the bank a bad name.