Bank of America's Job Cuts in Asia and Investment Bank Amid Tough Times

Bank of America is cutting jobs just days before bonus announcements, with cuts reportedly including 20 people in Asia and dealmaking teams in London. The bank declined to comment, but sources say the cuts are minimal and part of the annual performance review. This move comes despite the bank's strong hiring last year and record-breaking performance by its salespeople and traders. The timing of the cuts, so close to bonus announcements, has surprised many in the industry.