U.S. bank JPMorgan Chase & Co is planning to cut hundreds of jobs across its con...
The report did not mention the exact number of jobs to be cut but said the planned layoffs represent about 1% of employees in the unit.
JPMorgan will notify the impacted staff on Feb. 6 and give them a chance to apply for other roles at the bank, according to the report. The consumer unit includes the credit-card, deposit, home and auto lending businesses, and makes for about half of the bank’s revenue.Reporting by Kanishka Singh in Bengaluru; editing by Uttaresh.V
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