Merrill Lynch to axe 50% of London and NY forex staff
LONDON & NEW YORK - Half of Merrill Lynch's foreign exchange team will lose their jobs as a result of Bank of America's (BoA) takeover, market sources have told FX Week .
The job cuts will reportedly affect FX staff in London and New York. Merrill Lynch refused to comment on the number of FX jobs that will be lost, but confirmed that redundancies had begun across the bank as part of the global headcount reduction of 35,000 announced in December by BoA.
There is good news though for Merrill
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