Although I had heard sometime ago that JP Morgan was planning job cuts, I had no idea it would be this many. I guess just like so many other banks these days, they are also hurting due to the economy. On the other hand, could all these job cuts be the result of bad company management?
Below is a link the full story:
JPMorgan Chase Job Cuts: Bank Announces Plans To Slash Up To 4,000 Jobs
“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, as the bank tries to improve the profitability of its branches…”