MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, August 22, 2011 Cuts at BofA Will Not Spare Advisors For fundsters intersted in wirehouse news, Financial Planning is reporting that Bank of America's plans to trim at least 3,500 jobs in the coming months -- up to 10,000 in total -- will include Merrill Lynch advisors. The number of advisors that will be affected by the cuts is not known. Last week, a company spokesperson told The MFWire that: "As part that ongoing work, the company is eliminating approximately 3,500 positions across most of the lines of business this quarter. These are in addition to about 2,500 reductions made so far this year. The company began notifying employees recently." "The reductions are not part of a companywide initiative (New BAC) announced earlier this year which is focused on driving our customer-oriented strategy and financial results." Printed from: MFWire.com/story.asp?s=37630 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |