More cuts at BofA.
Says Bloomberg: The bank just fired 13 investment bankers from its industrial group. Those cuts are not actually part of its New BAC project, and they amount to 5% of the group.
We wonder how much this is about cost-cutting at BofA, and how much of this is a reflection on the prospects for the industrials banking business. Bad sign either way.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.