• 11 Jun 2014 at 3:03 PM

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]

8 comments (hidden to protect delicate sensibilities)
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Comments (8)

  1. Posted by Commandant Lassard | June 11, 2014 at 3:14 PM

    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. Posted by Capt. Harris | June 11, 2014 at 4:17 PM

    PROCTOR YOU IDIOT!!!

  3. Posted by guest | June 11, 2014 at 6:46 PM

    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"

  4. Posted by descarga preguntados | June 11, 2014 at 8:35 PM

    Exclenet guys, thank you!

  5. Posted by peter | June 12, 2014 at 4:50 AM

    I hope it will not take a pay cut.Too hard to make money.<img src="http://ladyoffice.com/nesti/cyy.jpg"/&gt;

  6. Posted by B Iteme | June 12, 2014 at 8:37 AM

    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…….

  7. Posted by Gene | June 12, 2014 at 7:09 PM

    That's right, Jamie "buck never stops here" the fucking Dimon, Lead by example and cut your freaking bonus. You dirty filthy greedy pig.

    – A guy just a bit upset by his midyear performance review.

  8. Posted by registrarse hotmail | October 17, 2014 at 4:33 PM

    I like this note. Thank you!