Now its JPMorgan's turn

Picture Source: CNN.net
An article on how JP Morgan is going to reduce its work-force. Just a reflection of the times ahead I guess. It does not matter if you are Jamie Dimon, if the economy is bad, you too will have trying times.

Article produced in verbatim from the DealBlogs on NY Times.

As JPMorgan Chaseconducts a global review of its operations, analysts told The Telegraph that the bank could cut about 3,000 jobs.

The review is slated to be completed by year’s end with the layoffs to follow in subsequent months, said the paper.

“Banks are being forced to right-size their businesses as they face the fact that clients are going to be doing a lot less business over the next 12 months,” one source close to JP Morgan told the Telegraph.

Those 3,000 jobs cited by analysts amount nearly 10 percent of the bank’s near-31,000 global workforce.