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    JPMorgan To Cut Tech Support Jobs As Revenue Dips

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    Wochit

    by Wochit

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    JPMorgan, the biggest U.S. bank by assets, is slashing its technology support workforce in corporate and investment banking division following a revenue dip. The company's revenue from fixed-income and equity markets fell 15 percent to $3.5 billion in the quarter ended June 30, compared with the same quarter last year. Job cuts in mortgage banking was on pace to exceed the 6,000 announced earlier, Chief Financial Officer Marianne Lake said in an earnings call with analysts earlier this month.