BofA reportedly cutting trading and investment banking jobs

|About: Bank of America Corporation (BAC)|By:, SA News Editor

The move comes amid a sluggish environment, with trading and investment banking revenue at the nine largest global banks off 4% in 2013, and continuing the trend so far this year. Citing a source, Bloomberg says the cuts could approach nearly 5% of the staff in those units.

Earlier: Deutsche Bank - which recently joined JPMorgan and Ciitgroup in warning of a weak Q1 - reportedly plans cuts at its investment bank.

BAC -0.1%