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United States : JP MORGAN CHASE to axe 8000 Jobs with launch of 600 ATMs

June 17, 2014

JP Morgan Chase has launched new electronic banking kiosks (EBKs) that carry out a range of functions from cashing checks to belching cash in desired denominations.

The launch will give rise to axing of 8,000 mortgage and retail banking jobs.

According to a bank official, after introducing nearly 1,000 EBKs in the US, the firm is planning to set up an additional 600 by the end of the year.

Moreover, clients can soon anticipate seeing biometric scanning and additional features such as syncing an app to user mobile that will let the clients to withdraw money remotely and have it waiting.

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Source: TendersInfo (India)

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