JP Morgan to cut hundreds of jobs across consumer unit | Editorji
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JP Morgan to cut hundreds of jobs across consumer unit

Jan 29, 2020 19:56 IST

JP Morgan Chase plans to dismiss several hundred workers from its consumer unit as the lender seeks to rein in costs, according to reports. The bank intends to notify affected employees on February 6. The consumer unit, which houses the deposit, credit card, home, and auto lending businesses, contributes to nearly half the firm’s revenue. Banks around the world have cut thousands of jobs as they slash costs to weather a slowing economy and adapt to shifts in consumer behavior and in digital technology.