The layoffs, first reported by the Wall Street Journal, translate to about 1,500 jobs of the bank's total reported headcount of 51,700 as of end-2022. Shares in BNY Mellon were up 2.4% in afternoon trading. Goldman Sachs and BlackRock Inc are also cutting jobs, sources told Reuters earlier this week, as high interest rates threaten the economic outlook and dampen dealmaking. Wall Street's biggest banks kicked off the earnings season by earmarking more rainy-day funds to prepare for a possible recession ahead and reported weak investment banking results.