Layoffs Watch ’14: JP Morgan

According to CFO Marianne Lake, the bank may be forced to sacrifice some employees (and bonuses) for the greater good.

JP Morgan & Co. may have to push through pay cuts and job reductions in its investment bank, due in part to revenue pressures and relatively slow trading conditions, the firm’s chief financial officer said Wednesday. Speaking at an investor conference in New York, J.P. Morgan CFO Marianne Lake said the firm could cut compensation if it continues to face short-term revenue pressures. She didn’t give a time frame, however.

J.P. Morgan Could Face Cuts in Pay, Jobs [WSJ]

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8 Responses to “Layoffs Watch ’14: JP Morgan”

  1. Commandant Lassard says:

    If this comes as the least bit of a shock to you, kindly take a scissor to your man parts so you don't contaminate the rest of the world. Other than that I have no issues

  2. guest says:

    You fawking guys keep busting my balls like a CityBike seat about bonuses and layoffs but da fact of da mattaw is many of youz lack professionalism and bazic grammaw.

    -Jamie "the Greek"

  3. Exclenet guys, thank you!

  4. peter says:

    I hope it will not take a pay cut.Too hard to make money.<img src=""/&gt;

  5. B Iteme says:

    If only we could do a really big trade, some thing gargantuan that would move the market and be out of the jurisdictional range of Dodd-Frank and the Volker Rule….let's see….maybe in London…then we would have enough money to make it all fine…….

  6. I like this note. Thank you!