Article

2023-05-27 Economy

JPMorgan reportedly slashed close to 500 companywide jobs this week

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Posted by Fred 2023-05-27 00:00|| || Front Page|| [2 views ] Top

#1 The fruit of acquisition is layoff.

Posted by Super Hose 2023-05-27 07:17|| 2023-05-27 07:17|| Front Page Top

#2 ^^^Exactly right. I worked on a couple of acquisitions in my career, and the pressure to achieve cost savings in order to justify the price paid for the acquired company is intense.

Posted by Tom 2023-05-27 11:33|| 2023-05-27 11:33|| Front Page Top

#3 1,000 First Republic Bank employees after acquiring the failed bank earlier this month

Nuff said.

Posted by DooDahMan 2023-05-27 11:36|| 2023-05-27 11:36|| Front Page Top

#4 First Republic's $35M banker outearned JPMorgan's Dimon before bust

Posted by M. Murcek 2023-05-27 11:39|| 2023-05-27 11:39|| Front Page Top

#5 And funny how we haven't heard a peep about those company execs at Silicon Valley bank who were selling shares a few weeks before its collapse. Nothing like insider trading. But given their political [woke] connections, figure the odds of anything happening.

Posted by DooDahMan 2023-05-27 11:45|| 2023-05-27 11:45|| Front Page Top

#6 First Republic, Silicon Valley, PacWest (in big trouble) and (albeit for different reasons), Silvergate. All California banks and all under the purview of the Federal Reserve's San Francisco bank. Oh, and who is a former president of the Fed's bank in San Fran? One Janet Yellen.

It's not about banking and risk management (Signature Bank in New York). It's trying to be the most woke and buddying up with rich woke friends such as whiny bitch Bill Ackman.

There might be a few smelly rats at Stanford Univ. as well.

Posted by DooDahMan 2023-05-27 12:03|| 2023-05-27 12:03|| Front Page Top

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