BOA cutting labor following drop in revenue

BOA cutting labor following drop in revenue

Credit: AP

FILE - In this April 21, 2008 file photo, a sign for a Bank of America branch is shown in Charlotte, N.C. (AP Photo/Chuck Burton, File)

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by WCNC.com Staff

WCNC.com

Posted on March 25, 2013 at 12:41 PM

CHARLOTTE, N.C. -- Charlotte-based Bank of America is cutting costs by handing the pink slip to some high-paid workers.

Sources tell Bloomberg that more than 30 trading and sales employees have already been let go this month, as BOA tries to reduce its compensations costs.

Among those getting the boot is the head of international equities trading.

Bank of America's revenue from equities sales and trading dropped nearly 25-percent last year.
 

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