Bank of America has eliminated 150 junior banker jobs in its investment bank, two sources familiar with the matter told Reuters on Tuesday.

Charlotte-based Bank of America Corp. (NYSE: BAC) has trimmed 150 junior positions in its investment banking division, sources familiar with the matter told Reuters. The bank says most junior bankers were offered roles outside investment banking.

Bank of America has laid off 16 bankers in Hong Kong as part of global cuts to its investment banking workforce, two sources with knowledge of the matter told Reuters on Friday. The lay-offs mainly targeted junior dealmakers,