Almost 10,000 people will be cut in 2014. Hits are on the consumer and community banking side - the interest rates are doing up and there will be less loans to be provided here. Compliance will be hit too. We still have 250,000 employees though, but you can see that things are not going that well. Also, credit card services and bank networks will be affected, we all know that mortgage side and home loans will be decimated no matter what. So now, go figure how many job cuts will take to stabilize the firm. We'll save billions, but we'll destroy 10,000 families.
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Chase mobil phone deposits, online bank accounts, slick teller machines - do the math, fewer employees are needed - the conclusion is simple... DOWNSIZING