J.P. Morgan Shedding More Investment Bank People

From the Wall Street Journal: “J.P. Morgan Chase & Co. began handing out pink slips to employees in its investment bank, becoming the latest Wall Street firm to slim its ranks amid a gloomy outlook for next year. It is yet another round of cuts at J.P. Morgan’s investment bank, which cut about 5,000 jobs earlier this year following its acquisition of Bear Stearns Cos. A J.P. Morgan spokeswoman said the bank hadn’t determined the number of job cuts in its investment bank, which has 30,000 employees.”

J.P. Morgan Shedding More Investment Bank People