<i>FT</i>: JPMorgan to cut thousands of extra jobs

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

JPMorgan (JPM) plans to slash thousands more jobs at its mortgage business and at its branches amid plummeting demand for home loans and the increased automation of clerical jobs, the FT reports.

The cuts would be part of a new efficiency program and would add to the 10,000-15,000 positions that JPMorgan has already axed.

The bank intends to reduce branch staff via attrition over time.

JPMorgan could announce the job cuts at its annual investor day today.