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Exclusive: Bank of America eliminates some investment banking roles, sources say

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Bank of America eliminated some investment banking roles on Monday, including in New York, according to three sources familiar with the situation who declined to be identified discussing personnel matters.
Bank of America Corp has recently undertaken layoffs within its investment banking division, affecting an unspecified number of employees, as reported by sources familiar with the matter. This move is part of a broader trend in the financial sector where banks are adjusting their workforce in response to a slowdown in deal-making activities. The layoffs come at a time when the industry is facing challenges from reduced mergers and acquisitions, as well as a dip in capital markets activity. Despite these cuts, Bank of America has not made any public statements regarding the layoffs, and the exact number of affected positions remains undisclosed. This action reflects the bank's strategy to streamline operations and adapt to the current economic environment.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/exclusive-bank-of-america-eliminates-some-investment-banking-roles-sources-say/ar-AA1ADPl3 ]