Jamie Dimon

'You’re always trimming the sails. That’s business,' said Jamie Dimon. Photo: Xinhua

JPMorgan to cut 5,000 more jobs

JP Morgan Chase, the largest bank in the United States, announced thousands of job cuts as its mortgage lending business slows.

The company said it expected total headcount to fall by 5,000 to 260,000 this year. The bank is also lowering its profitability target.