Merrill Lynch Global Wealth Management, now part of Bank of America, has just laid off several hundred recently-joined or inexperienced brokers.
Merrill Lynch Global Wealth Management, now part of Bank of America, has just laid off several hundred recently-joined or inexperienced brokers.
The layoffs were selected on the basis of performance and were chiefly those who had been with the company for less than two years, according to an internal Merrill email.
A Merrill spokesperson confirmed the jobs elimination, but wouldn’t say exactly how many brokers were laid off.
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This is the second round of job cuts by Merrill, after in December it let go some 400 advisors who had been with the firm between six months and two years.
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