JPMorgan announces cuts to profit target, jobs
Feb 25 (Reuters) - JPMorgan Chase & Co, the largest U.S. bank, is reducing both its profit target and headcount in 2014, according to a Tuesday presentation.
The bank trimmed its profit target to a range of 15 percent to 16 percent return on tangible common equity, down from 16 percent.
JPMorgan also said it expected total headcount to fall by 5,000 to 260,000 in 2014.
The bank announced the changes in a presentation tied to its annual investor day.
Shares of JPMorgan were down 0.3 percent at $57.85 in trading before the market opened.
- Malaysia military source says missing jet veered to west |
- Ukraine appeals to West as Crimea turns to Russia |
- Malaysia air probe finds scant evidence of attack: sources |
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source
- CIA accused of spying on U.S. Senate intelligence committee