Bankers Trust New York Corp. on Monday told 150 employees of its processing and investment management division that they would be out of a job by the end of the year.

The layoffs are the result of a recent internal merger within the oft-restructured unit, known as Global Assets. In September, Bankers Trust combined a Global Assets group that sells services to banks, governments, and agencies with another that focuses on corporations and nonbank financial institutions.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.