JPMorgan to cut Europe investment banking

Sights

JPMorgan plans to cut as many as 10% of its European investment banking jobs, Bloomberg reported.

The commercial bank, which bought Bear, Stearns & Cos in March, will make the cuts from mostly junior roles in Europe between now and September, according to a story on Bloomberg's website that cited two unnamed sources.

JPMorgan has over 180,000 employees globally, including about 25,000 in investment banking.

Spokespeople for JPMorgan Chase were not available for comment. (Reuters)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Travel