JPMorgan is cutting hundreds

Log Pile

Job losses in corporate and investment banking.

JPMorgan is cutting hundreds of technology support employees at its corporate and investment bank amid a revenue decline, people with knowledge of the move said.

Bloomberg News reports that employees in locations including New York, Tampa, Chicago and Dubai were notified of the cuts this month, said the people, who asked not to be identified because they weren’t authorized to discuss the matter.

'We continue to be focused and diligent on managing expenses and operating as efficiently as possible across our businesses', Chief Financial Officer Marianne Lake said this month in a conference call.

JPMorgan has cut about 6,000 employees in the first six months of the year, leaving it with 245,192 employees at June 30 and exceeding a forecast in February that it would reduce total headcount by 5,000. 

To access the complete Bloomberg News article hit the link below:

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