JPMorgan Chase To Cut 2,000 Additional Jobs

[Redfairen]

Source: International Business Times

JPMorgan Chase is planning to cut 2,000 more jobs on top of 13,000 to 15,000 job cuts already planned, the Financial Times reported Monday. An announcement is expected on Tuesday.

The cuts are a results of a combination of less demand for mortgage refinancing and JPMorgan’s use of labor-saving technology. Online financial services allow the largest bank in the United States to rely less on physical locations and of course, humans.

JPMorgan’s new strategy will mean smaller branches and a heavier reliance on online banking. The company will display a “branch of the future” at its headquarters on Park Avenue in New York City on Tuesday.

JPMorgan Chase currently employs around 255,000 people and it made $17.9 billion in net income last year.



Read more: http://www.ibtimes.com/jpmorgan-chase-nysejpm-cut-2000-additional-jobs-1557673

[L0oniX]

1. Gee what a coincidence ...I just cut up both of my Chase credit cards.

Didn't need them anyway now that I have a nice credit union low interest credit card.

[Munificence]

2. Housing Bubble Crash V2.0

[democratisphere]

3. Jamie Dimon must be getting a HUGE BONUS to go along with his HUGE SALARY increase.

15,000 to 17,000 more jobs will be lost. Appears there will be lots of job losses for 2014.

[msongs]

4. it gets to keep all the $$ ripped off the public in the crash, now cut staff for higher bonuses nt

[DallasNE]

5. How Did You Think They Would Pay For Those Fines

And its another reason they need to go after the executives that actually commit the crime rather than the stockholders and employees that support the stockholders.

[blkmusclmachine]

6. Get rid of the jobs, before you get rid of the people.

[bemildred]

7. Gotta pay for Jamie's bonus. nt