Layoffs Watch '16: JP Morgan

The bank said goodbye to 100 employees who cater to the rich yesterday.

Just know that this round of cuts is harder on the ghost of Jonny Pierpont Morgan than it is on you.

J.P. Morgan Chase & Co.’s private bank announced internally another round of layoffs affecting nearly 100 employees, people familiar with the matter said. The unit shared the news within the bank Monday. The moves, which affect employees in a range of positions and locations, follow previous rounds of layoffs across the country in recent months.

J.P. Morgan Private Bank Lays Off Nearly 100 Employees [WSJ]