Layoffs Watch '15: JP Morgan, Goldman Sachs, Maybe

According to Charlie Gasparino, the banks may or may not see cuts next year.
Author:
Updated:
Original:

Reporteth Gasparino:

"Here is what we know, at every major bank particularly from what I understand Goldman Sachs and JPMorgan…over the next year we’re going to see continued cut backs among these trading personnel. Most of the trading at these firms right now is done automated. Everything from foreign exchange, you name it. It has been automated to the point - it saves cost that you just don’t need the support personnel and increasingly, you don’t need the traders, you may need a few, but you don’t need as many…the places I’m hearing it the most is Goldman Sachs and JPMorgan.”

[FBN]

Related