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JPMorgan Chase Lays Off More Employees

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Bloomberg reported Tuesday that JPMorgan Chase (NYSE: JPM) has cut 6,000 employees in 2014, which exceeded forecasts of a 5,000 employee reduction for the first half of the year.

Over the past five years, JPMorgan Chase has had fluctuating profitability. Assuming headcount reductions have the intended impact, the net profit margin should improve in future quarters.

Investors and speculators were largely unimpressed by the news as management has already communicated in the past that it wants to generate further cost efficiencies in its operations. JPMorgan Chase dipped down Tuesday, but has rebounded in Wednesday's session.

The stock recently traded at $59.04, up 0.03 percent for the week.

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Posted-In: News Management

 

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