Layoffs Watch '07: Some Of Jamie Dimon's Souvlakettes Are More Expendable Than Others


In anticipation of a $2 billion write-down, JPMorgan has apparently notified staff that many jobs in the investment banking division will cease to exist, mostly those involving asset-backed securities and collateralized debt obligations. Did Jamie Dimon recently sit you down for an awkward conversation, re: your services no longer being required? What was the severance package like? Share your story today.
JPMorgan Cuts Investment Banking Jobs [CNBC]


Jamie Dimon (Sort Of) Returns Tom Brady's Favor

Back in October, the most wonderful aspect of the JPMorgan Whale Tale emerged in the pages of Vanity Fair: the day Vice-Chairman Jimmy Lee barricaded himself in his office determined to come up with a way to help Jamie Dimon, and after hours of thinking real hard, summoned his six secretaries and told them they had a job to do, which was getting Tom Brady on the horn so he could deliver a pep talk sure to cheer up the boss. Was the call kind of awkward, considering the two had never spoken and Brady's lack of useful investment ideas likely meant his big speech involved not much more than  "Even Super Bowl champion quarterbacks have bad days" and "Keep your chin up out there?" Probably. And yet some sort of bond was clearly forged, which would explain why Dimon felt compelled to throw Brady this bone: