Six months after several of Merrill Lynch & Co.'s top fixed-income executives were ousted from their jobs, another round of shakeouts is underway, which involve many of the bank's senior executives in fixed income.

Sources familiar with the company say that Stewart Cutler, David Sobotka and Scott Soltas have all opted to take generous packages and will leave the investment bank by the beginning of June, said sources familiar with the situation.

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