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J.P. Morgan Chase & Co. is cutting more than 5,000 jobs in an effort to trim costs and become more efficient.
The cuts already have begun, according to people familiar with the decision, and are part of a broader industry move toward Internet and mobile banking. The bank will cut at least 2% of its current workforce in the next year.
The moves come as the nation’s largest bank overhauls its 5,570 branches to rely more on technology and less on human tellers.
Glazer, Emily. "J.P. Morgan Aims to Cut 5,000 Jobs." The Wall Street Journal., Friday, May 29, 2015, C1, Accessed on May 29, 2015, http://www.wsj.com/articles/j-p-morgan-expected-to-lay-off-more-than-5-000-by-next-year-1432834029
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