BNY Mellon plans to cut 3% of workforce this year, WSJ reports

BNY Mellon plans to cut about 3% of its workforce this year, or around 1,500 jobs, in a bid to streamline expenses, Justin Baer of Wall Street Journal reports, citing people familiar with the matter. Many of the reductions will target management positions, as BNY seeks to preserve its investments in junior staff, technology and operations, sources told the Journal. Reference Link