Prop Cuts Going Down Circa Now At JPMorgan?
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."