Any deeper cuts could hurt its businesses.
At JPMorgan's annual investor day on Tuesday, one big question will be at the top of attendees' minds: How can the bank keep a tight lid on costs without hurting its ability to grow revenue?
JPMorgan's CEO, Jamie Dimon, and at least five of his top executives are expected to give presentations on the bank's diverse range of businesses at the day-long event, with forecasts on revenue, expenses and shareholder returns. They're also expected to offer some fresh details on how the bank is using technology to improve operations and slash costs - an initiative Dimon and his deputies have long been touting.
Reuters reports that for the first time in years, JPMorgan is not expected to expand further its cost-cutting targets. The bank is only halfway through a previously announced $4.8bn cost-cutting target, and cutting any deeper could hurt its businesses, analysts said.
JPMorgan has already cut more than 25,000 jobs since 2011. That would run counter to what other big banks have been doing. Executives from banks including Morgan Stanley, Goldman Sachs, Bank of America and U.S. Bancorp have all recently talked about further cost-cutting efforts.
To access the complete Reuters article hit the link below