JP Morgan next in line for big layoffs
Posted Nov 16th 2008 11:10AM by Douglas McIntyre
Filed under: Employees, JPMorgan Chase (JPM), Financial Crisis
The London Telegraph thinks it has a scoop. Maybe it does. The paper claims that "People close to JP Morgan say it has begun consulting on the scale of job cuts but that it was likely to be on a comparable scale to those of rivals."
The paper is vague on how many people that will be. Is it 10% of the investment banking division, or 10% of the entire company? In the first case it would be a few thousand people but in the second it would be close to 25,000.
Posted Nov 16th 2008 11:10AM by Douglas McIntyre
Filed under: Employees, JPMorgan Chase (JPM), Financial Crisis
The London Telegraph thinks it has a scoop. Maybe it does. The paper claims that "People close to JP Morgan say it has begun consulting on the scale of job cuts but that it was likely to be on a comparable scale to those of rivals."
The paper is vague on how many people that will be. Is it 10% of the investment banking division, or 10% of the entire company? In the first case it would be a few thousand people but in the second it would be close to 25,000.