• Most Popular
  • Most Shared

JPMorgan to cut Europe investment banking: report

NEW YORK
Thu Jul 3, 2008 6:48pm EDT

Stocks

   

NEW YORK (Reuters) - JPMorgan (JPM.N) plans to cut as many as 10 percent of its European investment banking jobs, Bloomberg reported on Friday.

Stocks  |  Bonds  |  Funds News  |  ETFs News

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.

(Reporting by Dan Wilchins; Editing by Toni Reinhold)
Stocks
Bonds
Funds News
ETFs News


More from Reuters

Afghan insurgents kill CIA agents, Canadians

KABUL (Reuters) - Insurgents intensified their campaign against military targets and U.S.-led forces in Afghanistan, killing eight U.S. CIA agents at a base and four Canadian servicemen on patrol and a journalist accompanying them.

» More Top News
A security camera sits on a building in New York City March 6, 2008. REUTERS/Joshua Lott

Trial run in Times Square

Critics say the Sept. 11 trials will endanger America's most populated city. Will a New Year's Eve plan hold up as New York's security template?  Full Article 

U.S.
People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid
Rolfe Winkler:

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article 

    Commentary