HONG KONG – Bank of America Corp has told around 40 bankers in Asia to look for new roles within the organization, a person familiar with the matter said, as it moves to control costs globally and cut back amid slowing Chinese dealmaking. The bank on Wednesday notified the staff in Asia Pacific markets that they would have to look for new jobs in other divisions or geographies within the company, the person said. Those who can't find another role internally within a few months would face redundancy, according to the person, who asked not to be identified as the information is private.

https://business.inquirer.net/402644/bank-of-america-redeploys-40-asia-bankers-as-china-dealmaking-stalls

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