News Column

JP Morgan to cut 8,000 posts

February 26, 2014

JP MORGAN Chase, the largest bank in the United States, yesterday announced plans to cut 8,000 jobs this year as it reduced its profit target.The job cuts will be in its mortgage banking and credit card divisions, but some 3,000 posts will also be created in areas such as compliance. Chief executive Jamie Dimon said before a presentation to investors that the changes were part of the adjustments the company has to continually look at as its business changes."You're always trimming the sails. That's business," he said.

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Source: Scotsman, The (Scotland)

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