Natalie Parkinson
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BofA may cut jobs

Bank of America Corp. is cutting jobs across co-Chief Operating Officer Thomas Montag’s global trading and investment banking units, according to three people with direct knowledge of the decision.

The dismissals at the second-biggest U.S. bank will affect fewer than 5 percent of employees in the units, said one of the people, who requested anonymity because the moves haven’t been made public. Some staff members volunteered to go, the people said. Kerrie McHugh, a spokeswoman for the Charlotte, North Carolina-based company, said it had no comment.