JPMorgan to cut 4,000 consumer banking jobs


Financial giant JPMorgan has announced plans to cut about 4,000 jobs, mostly from its consumer banking and mortgage divisions.

The move also could hint at a new direction for JPMorgan, one toward a leaner staff.

The cuts only amount to a 1.5 percent workforce reduction for the bank, but the news comes on the heels of a healthy year in which it increased both profit and revenue.

The bank already cut about 1,200 jobs in 2012 after adding them during the two previous years.








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