From the front lines at the House of Dimon: "JPM laid off most of its North American CLO team on Wednesday (or what was left of it)."
Layoffs Watch '12: JPMorgan
The House o' Dimon has said to be letting some people down gently today. "Big equities cuts today at JPM. 10% ish of floor? Gone. A good deal of senior people but a smattering of associates and analysts as well. Seems like a general restructuring, every group affected."