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Bank of America cuts 150 junior jobs in investment banking: Sources
The second-largest U.S. lender will offer most of the junior bankers, who include associates and analysts, roles outside of investment banking, one of the sources told Reuters.
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FILE PHOTO: A Bank of America logo is seen on the entrance to a Bank of America financial center in New York City, U.S., July 11, 2023. / REUTERS/Brendan McDermid/File Photo
Bank of America has eliminated 150 junior banker jobs in its investment bank, two sources familiar with the matter told Reuters on March 11.
The bank's latest cuts follow similar exercises at rivals JPMorgan and Goldman Sachs and are part of an annual process to cut under-performers. However, deal volumes have also fallen below expectations in the first half of the year.
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