• Fin24's biz quiz

    Test your business news in 30 seconds with this Fin24 quiz.

  • Inside Labour

    Brexit should send warning signals to worker organisations everywhere, says Terry Bell.

  • Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

All data is delayed
Loading...
See More

JPMorgan to trim 4 000 jobs

Feb 26 2013 18:57
AFP

New York - JPMorgan is trimming about 4 000 jobs, becoming the latest big bank to shrink its work force.

The bank says the cuts will be focused in consumer banking and mortgages. A bank spokesperson stressed that many of the cuts would come through attrition, but the bank will lay off workers as well.

The cuts amount to about 1.5% of JPMorgan's work force and are part of the bank's bigger cost-cutting campaign. They were revealed in a presentation to investors on Tuesday morning.

They come after a year when the bank increased both profit and revenue. And the move could signal a new direction in jobs: JPMorgan already shed about 1 200 jobs in 2012, after adding jobs in 2011 and 2010.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

jpmorgan  |  jobs

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...