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JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees

 
gebahie

User ID: 29164786
02/26/2013 10:06 AM

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JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees
JPMorgan Chase became the latest Wall Street firm to scale back in an uncertain economy, announcing plans Tuesday to save $1 billion through various costs cuts and about 4,000 job reductions.

The bank, struggling to emerge from the shadow of a trading scandal known as the "London Whale" affair that dealt the firm ts biggest ever trading loss, also issued a stark warning about the rising costs of regulation.

[link to www.cnbc.com]
Free Planet
User ID: 20785537
United Kingdom
02/26/2013 10:14 AM
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Re: JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees
The Workforce, it's the MAJOR ASSET (in terms of 'profitability') and the MAJOR OVERHEAD (in terms of 'cost').

Go figure, slaves.

:)
insertfunnyusername

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Greece
02/26/2013 10:23 AM
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Re: JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees
Banking giant Goldman Sachs (GS) is reportedly set to begin a new round of job cuts as early this week as Wall Street’s trading business continues to struggle.

Goldman typically lets go of about 5% of its weakest-performing employees at around this time of the year. However, these job cuts are expected to be deeper in some businesses, Reuters reported.

[link to www.foxbusiness.com]
Anonymous Coward
User ID: 2662171
Poland
02/26/2013 10:47 AM
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Re: JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees
newsflashnewsflashnewsflashnewsflashnewsflashnewsflash


"Too Big to Fail has become Too Big for Trial"
Anonymous Coward
User ID: 34837866
United States
02/26/2013 10:59 AM
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Re: JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees
Yeh but Benny just said the recovery is on schedule !

1rof1
Free Planet
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United Kingdom
02/26/2013 11:15 AM
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Re: JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees
newsflashnewsflashnewsflashnewsflashnewsflashnewsflash


"Too Big to Fail has become Too Big for Trial"
 Quoting: Anonymous Coward 2662171


Warren quote: [link to mikephilbin.blogspot.co.uk]

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