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JPMorgan eyes job cuts in Dubai - Report

JPMorgan eyes job cuts in Dubai - Report
The largest US lender JPMorgan Chase & Co is said to be cutting hundreds of technology support employees in its corporate and investment bank, including some in Dubai, according to a report by Bloomberg. Citing unnamed sources, the report says that staff in locations including New York, Tampa, Chicago and Dubai were notified of the cuts this month. JPMorgan’s corporate and investment bank posted a 12 percent revenue drop to $17.6 billion in the first six months of 2014. Bloomberg said JPMorgan has cut about 6,000 employees in the first six months of the year, leaving it with 245,192 workers at June 30 and exceeding a forecast in February that it would reduce total headcount by 5,000.