JPMORGAN TO FIRE THOUSANDS

http://www.zerohedge.com/news/2014-02-24/jpmorgan-fire-thousands

JPMORGAN TO FIRE THOUSANDS
Following last year's realization that mortgage origination as a product line is effectively dead (which has forced such origination dependent banks as Wells Fargo to return to subprime lending in hopes of keeping the revenue stream alive, knowing full well how it all ends), and that only investors and "all cash" buyers are keeping the myth of the housing recovery alive on their shoulders, banks fired tens of thousands of workers in the mortgage business hoping to stem the bottom line bleeding from the collapse in revenues.
Comment

I guess it's better to be fired by JPM than be pushed off the top of a building by JPM