New York: JPMorgan Chase & Co, the biggest US bank by assets, is slashing its technology support workforce in corporate and investment banking division following a revenue dip, Bloomberg News reported, citing people familiar with the matter.
Offices affected include New York, Tampa, Chicago and Dubai.
Luke Moranda, a managing director in charge of clearing technology, and Dan Cronin, an executive director, were relieved of their duties, it said.
Some workers were reportedly demoted as the company tries to cut compensation expenses, the report added.
JPMorgan spokesman, Brian Marchiony, declined to comment on the report.
Reuters
