BofA’s Moynihan: Trading unit faces further cost cuts

BofA to cut 'a couple of hundred' jobs: WSJ – – Bank of America, which had about 216,700 full-time employees as of June 30, declined to comment on the report. Bank of America Corp is planning "a couple of hundred" job cuts at its global banking.

UPDATE 5-BofA plans $3 bln of new cost cuts;posts 2nd-qtr profit – The cost cuts come as the bank faces real. along with further planned redemptions, should save the bank about $300 million a quarter. "We are fighting with all the arrows in our quiver that we have.

Bank of America CEO says more cuts to come unless revenues. – Revenue in the fixed-income, currency and commodities sales and trading division decreased 7% to $2.75bn on declines in credit and mortgages.

Bank of America profit declines – The Australian – Bank of America profit declines.. Mr Donofrio pointed out that the bank continued to focus on cutting costs, one of Mr Moynihan’s chief priorities as CEO.. which includes the trading unit.

UPDATE 5-BofA plans $3 bln of new cost cuts;posts 2nd-qtr. – * Q2 EPS 19 cents vs loss 90 cents a year ago * Rev $21.97 bln, down slightly from Q1 * Q2 expenses fall 25 pct to $17 billion * Part two of cost-cut program aims to save $3 bln annually By Rick.

BAC's brian moynihan Fha Required Repairs 2019 Has a Huge Job Ahead | InvestorPlace – BAC’s Moynihan Has a Huge Job Ahead Fixing the nation’s second-largest bank is a marathon, not a sprint – and Moynihan has already made big mistakes

BofA’s Moynihan: Trading unit faces further cost cuts – Bank of America, the second-biggest U.S. lender, will have to reduce expenses further in its markets trading division unless revenue improves, CEO Brian Moynihan said Wednesday in New York. T. Ortega.

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BofA's cost cuts cushion blow from weak rates, muted trading – BofA’s cost cuts cushion blow from weak rates, muted trading. Shares of the No.2 U.S. bank by assets rose as much as 2.6 percent in morning trading on Wednesday. The bank’s non-interest expenses fell by a third to $13.81 billion, mainly due to an 83 percent drop in costs in its legacy assets and servicing unit, which houses many of the bad loans inherited from Countrywide Financial.

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