Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

BANK OF AMERICA CORPORATION

(BAC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bank of America : BofA to cut 'a couple of hundred' jobs: WSJ

09/29/2015 | 12:12pm EST
A Bank Of America sign is pictured in the Manhattan borough of New York

(Reuters) - Bank of America Corp is planning "a couple of hundred" job cuts at its global banking and markets unit, the Wall Street Journal reported.

The bank could announce the layoffs as early as Tuesday, the Journal said, citing people familiar with the matter.

Bank of America, which had about 216,700 full-time employees as of June 30, could not be immediately reached for comment.

Investment banks have been known to axe jobs at this time of year, just ahead of bonus season.

Bank of America's third-quarter trading revenue may fall between 5 percent and 6 percent due to weakness in its fixed income business, Chief Executive Brian Moynihan said at a conference less than two weeks ago.

Moynihan, known within the bank as a problem-fixer and a cost-cutter, had previously said the trading business would need to trim expenses if results did not improve.

Bond trading has been under pressure since the financial crisis as new rules discourage banks from trading off their own balance sheet and regulators demand that banks boost capital.

Recent concerns over the slowing Chinese economy and the Greek debt crisis are expected to further cut into banks' trading volumes.

During the second quarter, bond trading revenue at every major bank, with the exception of Morgan Stanley, declined from a year earlier.

(Reporting by Richa Naidu in Bengaluru; Editing by Savio D'Souza)


ę Reuters 2015
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 2.89% 44.89 Delayed Quote.44.64%
MORGAN STANLEY 3.78% 98.86 Delayed Quote.44.26%
All news about BANK OF AMERICA CORPORATION
11:55aManagement turmoil complicates Telecom Italia bid response
RE
04:13aVifor Pharma Jumps 16% on $10 Billion Takeover Talks with Australia's CSL
MT
12/02BANK OF AMERICA CORPORATION : Ex-dividend day for
FA
12/01Crude Prices Set to Breach $100 in 2022 as Long-Dated Oil Could Rally Amid Progress in ..
MT
12/01Bank of America donates $1 million toward Kirk Kerkorian School of Medicine at UNLV
PR
12/01Bank of America's Native American Support Tops $17 Million Since 2020
AQ
11/30Yen shines, Aussie sags as Powell turns hawk despite Omicron uncertainty
RE
11/30BANK OF AMERICA : CEO to Participate at the Goldman Sachs 2021 US Financial Services Confe..
PU
11/30LG Energy Solution gets preliminary approval for IPO
RE
11/29Software firm HashiCorp seeks up to $13 bln valuation in U.S. IPO
RE
More news
Analyst Recommendations on BANK OF AMERICA CORPORATION
More recommendations
Financials (USD)
Sales 2021 89 297 M - -
Net income 2021 30 109 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,8x
Yield 2021 1,74%
Capitalization 367 B 367 B -
Capi. / Sales 2021 4,11x
Capi. / Sales 2022 3,95x
Nbr of Employees 209 000
Free-Float 99,8%
Chart BANK OF AMERICA CORPORATION
Duration : Period :
Bank of America Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANK OF AMERICA CORPORATION
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 44,89 $
Average target price 47,78 $
Spread / Average Target 6,44%
EPS Revisions
Managers and Directors
Brian T. Moynihan Chairman, President & Chief Executive Officer
Alastair Borthwick Chief Financial Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Andrea B. Smith Chief Administrative Officer
Sector and Competitors