Bosses aren’t just unapologetic about staff cuts. Many are touting shrinking head counts as accomplishments in the AI era.

The company deployed automated coding tools to its 17,000 software developers, CEO Brian Moynihan said Wednesday.

In today’s CEO Daily: Diane Brady talks to Bank of America CEO Brian Moynihan. The big story: Trump visits NATO after declining to commit to the alliance. The markets: More sunny weather.

Shares of Bank of America, which topped estimates in each quarter of 2024, were up 5% shortly after markets opened Tuesday. They entered the day down roughly 17% since the start of the year.

Bank of America BAC.N shareholders voted on Tuesday to approve pay packages for CEO Brian Moynihan and the lender's top executives, and also elected its 14 directors on the board.