MaxShimba
JF-Expert Member
- Apr 11, 2008
- 35,771
- 4,065
NEW YORK (Reuters) - JPMorgan Chase & Co plans to cut 3,000 to 4,000 jobs in its consumer bank in 2013, representing about 1.5 percent of the company's overall workforce, it said in a presentation to investors on Tuesday.
The cuts will come mainly through attrition, spokeswoman Kristin Lemkau said.
JPMorgan Chase had 258,965 employees globally at the end of 2012. Its headcount rose following the financial crisis, to 262,882 in the second quarter of 2012 from 219,569 in the first quarter of 2009. Since last year's second quarter, staffing levels have drifted lower.
The bank has been building more branches even as competitors such as Bank of America Corp have scaled back. But its consumer bank business is also looking to reduce costs in its branches by staffing them more efficiently, JPMorgan Chase said in the presentation.
Read more: JPMorgan Chase to cut up to 4,000 jobs in 2013: Thomson Reuters Business News - MSN Money
The cuts will come mainly through attrition, spokeswoman Kristin Lemkau said.
JPMorgan Chase had 258,965 employees globally at the end of 2012. Its headcount rose following the financial crisis, to 262,882 in the second quarter of 2012 from 219,569 in the first quarter of 2009. Since last year's second quarter, staffing levels have drifted lower.
The bank has been building more branches even as competitors such as Bank of America Corp have scaled back. But its consumer bank business is also looking to reduce costs in its branches by staffing them more efficiently, JPMorgan Chase said in the presentation.
Read more: JPMorgan Chase to cut up to 4,000 jobs in 2013: Thomson Reuters Business News - MSN Money