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More job cuts at largest US bank JPMorgan Chase

More job cuts at largest US bank JPMorgan Chase
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JPMorgan Chase has announced it is to cut thousands more jobs, as it slightly trimmed its profit target for 2014.

The bank, which is the largest in the United States said the jobs of about eight thousand people would go this year, due to slowing demand for home loans.

That is 6,000 in its mortgage division where profits have fallen and 2,000 in high street banking as it opens fewer branches.

The total is over 5,000 more layoffs than it forecast a year ago, however it does plan to hire staff in other areas.