The Traderszone Network

Published in TZ Latest News 14 January, 2015 by The TZ Newswire Staff

Exclusive: JPMorgan presses managers to cut costs as profits fall

Senior executives at JPMorgan Chase & Co (JPM.N) are pressuring managers across the bank to cut costs, after disappointing revenue growth has hurt profits, a person familiar with the matter told Reuters on Wednesday. The bank might implement specific expense goals for businesses, the source told Reuters, adding, “Everyone is having to give at the office on this.” JPMorgan said it expects to disclose more about its cost-cutting efforts on Feb. 24, when it hosts its investor day.

read more