Not a 'doomsday scenario' -Analyst on bank layoffs

STORY: The long-anticipated jobs cull at the Wall Street titan, expected to represent the biggest contraction in headcount since the financial crisis, is likely to affect most of the bank's major divisions, with its under-fire investment banking arm facing the deepest cuts, a source told Reuters this month.

But Ken Leon, Director of Equality Research at CFRA, said it is not the "doomsday scenario" of 2008.

"What we're seeing here is maybe a better matching of lower revenue to needing lower costs," he said.