Agence France-PresseFebruary 26, 2013 20:00
US banking giant JPMorgan Chase plans to eliminate 19,000 jobs by the end of 2014 as it seeks to rein in costs, the company said Tuesday in an investor presentation.
JPMorgan Chase intends the majority of the cuts, 15,000 to come from the mortgage banking division, said spokeswoman Kristin Lemkau.
Another 4,000 jobs will be eliminated from the consumer banking banking division, Lemkau said.
The company plans to add 2,000 new posts in asset management and commercial banking, Lemkau said, leaving a net loss of 17,000 posts.