BANKING

Bankers Trust Expected to Reduce Its Work Force: The cuts are linked to last year’s financial results, when profit at the New York-based bank and other big banks and securities firms plunged amid a weak market for creating and selling derivatives and other securities. This week, Bankers Trust New York Corp. will lay off 5% of 1,200 officers in its global investment bank, mostly in the derivatives business, spokesman Thomas Parisi said. Expenses will also be cut at the bank’s other major businesses, such as worldwide asset management, transaction processing, private banking and securities trading. People familiar with the plan said the bank’s overall work force is expected to be reduced by 5%.