The chief executive of JPMorgan’s Chase Consumer & Community Banking division recently stated that the company will speed up the process of trimming costs and boosting efficiency, according to a November 8 report from Reuters.
JPMorgan plans to reduce its consumer business workforce by about 4,000 position before the end of 2013, a full year ahead of its original completion date.
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Cuts are also expected at JPMorgan’s mortgage lending and consumer credit card units.
To learn more about JPMorgan’s accelerated cost-cutting measures, read the fully Reuters story here.
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