JPMorgan, the largest U.S. bank by assets, said it would cut 3,000 more jobs than previously expected in its retail banking division.
The bank said it would reduce 4,000 jobs in its card, merchant services and auto unit, up from the 2,000 previously announced. The bank is also cutting 7,000 jobs in its mortgage banking unit, up from 6,000.
JPMorgan will have eliminated 27,000 jobs by the year-end from its consumer bank unit over two years, even after additions for more risk controls and regulatory compliance. Continue reading “JPMorgan to cut 3,000 more jobs in retail bank unit”

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