Layoffs Watch '10: JPMorgan
Cuts going down circa now.
Apparently "exotics is in the process of getting hosed, though not everyone in the group knows it." That is all we know so if anyone's got any other details they'd like to get of their chest, feel free to do so at this time.
Update: Apparently a handful of "associates in commodities structuring in London" have been to sleep in tomorrow.