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JPMorgan cuts tech jobs

JPMorgan Chase & Co is cutting hundreds of technology support employees in its corporate and investment bank amid a revenue decline. Workers in locations including New York, Tampa, Chicago and Dubai were notified of the cuts this month. Luke Moranda, a managing director in charge of clearing technology, and Dan Cronin, an executive director, were among those let go, the people said. JPMorgan’s corporate and investment bank, run by Daniel Pinto, posted a 12% revenue drop to $17.6 billion in the first six months of 2014, while non-interest expenses declined by 1.6% to $11.7 billion.

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