JPMorgan Chase & Co., the biggest U.S. bank, plans to reduce headcount by as many as 19,000 people in its mortgage and community banking businesses through 2014 as chief executive officer Jamie Dimon cuts expenses.
The lender, which employed about 259,000 people at the end of December, will cut 13,000 to 15,000 jobs in its mortgage unit and 3,000 to 4,000 in community banking excluding home lending through 2014, the New York-based company said Tuesday in presentations on its website. Firmwide headcount will shrink by about 4,000 people this year, mainly through attrition, said Kristin Lemkau, a company spokeswoman.
