I think we mostly lay people off on the tech side. If you look at other companies, #BankingLayoffs are wide spread but they hit mostly business folks. We hit mostly the back office functions and not the business side that much. If you look at Deutsche Bank layoffs that took place last month and also some cuts that were happening at Nomura here in NYC as well as BNYM - they are all cutting a ton of investment bankers, etc.
Not sure what this means and if we are any better than others - maybe we do more retail and there is the need for us to have a bigger back office group (so cuts are bigger here at BAC if compared to other banks). Not sure, but I do see a ton of tech jobs being lost.