Layoffs Watch '14: JP Morgan

Author:
Updated:
Original:

According to CFO Marianne Lake, the bank may be forced to sacrifice some employees (and bonuses) for the greater good.

JP Morgan & Co. may have to push through pay cuts and job reductions in its investment bank, due in part to revenue pressures and relatively slow trading conditions, the firm's chief financial officer said Wednesday. Speaking at an investor conference in New York, J.P. Morgan CFO Marianne Lake said the firm could cut compensation if it continues to face short-term revenue pressures. She didn't give a time frame, however.

J.P. Morgan Could Face Cuts in Pay, Jobs [WSJ]

Related