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.
Brian Moynihan/Getty Images

Brian Moynihan/Getty Images

If you're tapped on the shoulder and asked "got a minute?", consider just packing up your stuff then and there so as to avoid the awkward walk back from the conference room, "what was that about/I don't work here anymore" conversation with colleagues.

Bank of America plans to eliminate about a dozen senior positions at its corporate and investment-banking operations in Asia, the second time the U.S. firm is cutting jobs in the region this year, according to people with knowledge of the matter...The reductions by Charlotte, North Carolina-based Bank of America will involve managing directors and directors and will be spread across the region, one of the people said, asking not to be identified discussing confidential information. The cuts could start as early as Wednesday, another person said.

Wall Street Shrinks Further in Asia With Goldman, BofA Cuts [Bloomberg]