About that economy
A two-fer. First from
Forbes:
JPMorgan To Slash 15,000 Mortgage Jobs By End Of 2014, Save $3B
The U.S. housing market may be on the mend, but that isn�t stopping Jamie Dimon from belt-tightening in JPMorgan Chase�s mortgage business.
Ahead of Dimon�s remarks at the bank�s investor day in New York Tuesday, a presentation on the firm�s consumer and community banking business (CCB) indicates the mortgage unit is targeted for $3 billion in cost savings and between 13,000 and 15,000 job cuts by the end of 2014. The expenses tallied $9.1 billion in 2012.
That figure is on top of a planned reduction of 3,000 to 4,000 workers in CCB at large, though in the broader segment expenses are expected to increase modestly as the bank invests in the business.
Next up -- from
Business Insider:
Best Buy Is Cutting Hundreds Of Workers At Its Headquarters
Best Buy is cutting 400 jobs at its headquarters in Richfield, MN., the company announced today.
When new CEO Hubert Joly took over late last year, he promised to cut $725 million in annual costs, and job cuts were part of that plan.
Best Buy said that this is the "first phase" of that initiative.
Beginning of the end. People come in to look at different models of something and then shop online.
Posted by DaveH at March 1, 2013 11:39 AM