Report: JPMorgan to cut support jobs amid trading slump

JPMorgan Chase & Co., the biggest U.S. lender, is cutting hundreds of technology support employees in its corporate and investment bank amid a revenue decline, people with knowledge of the move told Bloomberg News.

The unidentifed sources said workers in locations such as New York, Tampa, Chicago and Dubai were notified this month of the cuts. Dan Cronin, an executive director, is said to be among those let go, according to the report.

Wall Street firms are trimming expenses by paring support employees and moving personnel to lower-cost locales amid a decline in fixed-income trading, Bloomberg reports.

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