The House of Dimon has allegedly begun "swinging the ax on prop traders, starting with energy group" with "around 40 people gone so far."
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."