Piper to trim workforce up to 3%

  • Article by: DAVID PHELPS , Star Tribune
  • Updated: April 18, 2012 - 9:45 PM

The Minneapolis investment bank will take a charge of about $5 million and look at reducing office space after first-quarter profit fell.

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ciamanApr. 18, 12 1:22 PM

And thus this is how it starts. Losing two to three percent of your employees will really hurt them. Those people will not buy any cars or homes. And not much of anything. And Piper Jaffray is trying to tough it through, but in truth, people are very lerry of their investments. And much less of that going on. Look at the wall street numbers. Very little volume. Almost none. And today it is reversing and the DOW is going back down. Where it should be. The markets today are like a yo-yo. Down, up, down and up. Or is it up and then down? Who knows?? No one knows. But that is why Piper is cutting staff. Less interest in investing. That is the real story.

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mouthwashApr. 18, 12 1:54 PM

Aah, the economic recovery continues!

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BadgerApr. 18, 12 2:52 PM

And how much do you want to bet the 30% percent they are cutting won't be the higher ups?

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clairjrApr. 19, 12 2:41 PM

Another prime example of the "seeds of recovery" we're seeing in our economic forecasts out of Washington, DC. Obviously, this administrations promises of "economic growth" are now being felt in the private sector..(sarc/on).

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