JPMorgan to slash European staff by as much as 10%

07/4/2008 | Financial Times (free content) · Bloomberg1

During the third quarter, JPMorgan Chase is planning to reduce its European investment-banking workforce by as much as 10%, a source said. The move is the latest indication that even financial institutions that have emerged from the credit crisis relatively unscathed are being hit by the economic slowdown. In addition to cuts to its equity and debt-capital markets and mergers and acquisitions businesses, staff reductions at JPMorgan Cazenove are also expected.

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Financial Times (free content) · Bloomberg1

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