JPMorgan to cut 3,000 more jobs in retail bank unit

A sign on the Canary Wharf offices of JP Morgan is seen through the branches of a tree in London January 28, 2014.
CREDIT: REUTERS/SIMON NEWMAN

(Reuters) – JPMorgan Chase & Co (JPM.N) said it would cut more than 3,000 jobs than previously expected in its retailbanking unit.

The bank expects its 2016 retail banking expense base to be $2 billion lower than in 2014, JPMorgan’s retail bank head Gordon Smith said in an investor conference on Friday.