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Layoffs Watch '09: JPMorgan

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Layoffs are said to be going down for investment bankers at the House of Morgan circa now, so far apparently affecting Natural Resources and FIG. While this is deeply upsetting, given the ban on congratulatory plaques for deal teams, one might ask what's the point of taking part in this racket anymore. More details as we get them.
Update: Associates in SLF (Syndicated & Leveraged Finance) added to the mix.