J.P. Morgan Cutting Jobs
By Mark DeCambre
TheStreet.com Senior Writer
10/11/2007 5:09 PM EDT
Credit crunch-inspired pink slips are picking up on Wall Street.
JPMorgan (JPM - Cramer's Take - Stockpickr - Rating) may cut at much as 10%
of its staff in areas focused on leveraged loans and structured credit,
according to people familiar with the moves.
JPMorgan spokesman Brian Marchiony confirmed the cutbacks but was unable to
say how many staffers comprise that area of the New York-based bank. The
