Bank of America said looking at trimming payroll (again)

FICC and global banking and markets may be impacted.

Bank of America boss Brian Moynihan, with shares of his bank trailing the performance of its peers this year, is looking to trim payroll again, The New York Post has learned.

The newspaper reports that the cuts, to be carried out before September 30, are not expected to be as severe as the 2,000 jobs slashed in 2013, sources said.

'They will be substantially less', one source noted, saying they could be less than half that amount.

The layoffs will affect the hard-hit unit that trades fixed income, currencies and commodities, known collectively as FICC, as well as the bank’s global banking and markets desks, according to a person familiar with BofA’s plans. Back-office positions are also on the chopping block.

To access the complete New York Post article hit the link below:

Embattled Brian Moynihan looking to trim BofA’s payroll

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