BofA reportedly cutting trading and investment banking jobs


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%

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Comments (5)
  • Patent News
    , contributor
    Comments (1475) | Send Message
     
    Well times are catching up to them, lots of criminals hanging around who haven't been prosecuted yet. FX rigging, rates rigging, what else is hidden?
    19 Mar 2014, 12:34 PM Reply Like
  • nairbem
    , contributor
    Comments (18) | Send Message
     
    I am surprised by the lack of idiots pounding the table about how great this will be for the share price to increase to 24.00 per share! Not many see this news as them loosing income !
    19 Mar 2014, 12:42 PM Reply Like
  • Charles100
    , contributor
    Comments (10) | Send Message
     
    Automation eventually will lead to lower cost for consumers. With the unemployment rate dropping, this could be a smart move.
    19 Mar 2014, 01:06 PM Reply Like
  • june1234
    , contributor
    Comments (4481) | Send Message
     
    With 5% fewer heads to feed profits should go up at BAC ,all depends which end of the recovery you're on I suppose
    19 Mar 2014, 02:28 PM Reply Like
  • nobody4
    , contributor
    Comment (1) | Send Message
     
    Do we really anticipate they will share the wealth main street
    19 Mar 2014, 04:47 PM Reply Like
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