Bank of America axes 150 junior banker jobs after layoffs at Goldman Sachs, JPMorgan
1. Bank of America cut 150 junior banker jobs in investment banking. 2. Job cuts are part of an annual performance review process. 3. Deal volumes in the first half fell below expectations. 4. Most affected junior bankers will be offered roles outside banking. 5. Similar job cuts are occurring at JPMorgan and Goldman Sachs.