Bank of America Plans Job Cuts in Its Investment Bank
The number of reductions, which are still being discussed, could affect less than 200 bankers globally, according to people familiar with the matter.
Source: https://www.bloomberg.com/news/articles/2023-02-1…
Anything heard internally?
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heard it's mostly seniors and this will be in March
yepp heard it’s mostly directors and up
I am getting a little bit freaked out right now. Obviously none of you can confirm 100%, but how likely is it that they withdraw an A1 contract?
The article said it could affect 200 people. You’re fine.
Extremely low
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London branch here - was told today that there will be no layoffs among analysts and associates
Interesting. Seems to be the same for most banks. VPs are hit the hardest as they don't bring in business and don't really do a lot of heavy lifting either.
My friend who works there said long tenured VPs are also ripe for being picked.
Some VPs are just overpriced associates, so it makes sense to start from there.
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