Banker to shrink staff by up to 7%

Posted: February 27, 2013 at 3:03 a.m.

Workers raise a JPMorgan Chase & Co. flag at company headquarters before an annual Investors Day conference in New York, U.S., on Tuesday, Feb. 26, 2013. JPMorgan Chase & Co., the biggest U.S. bank, expects headcount to decline by about 4,000 in 2013 as Chief Executive officer Jamie Dimon targets mortgage operations for cuts. Photographer: Victor J. Blue/Bloomberg

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.

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Business, Pages 28 on 02/27/2013