JP Morgan could face cuts in pay and jobs

CFO Marianne Lake says the US bank could cut compensation if it continues to face short-term revenue pressures

JP Morgan may have to push through pay cuts and job reductions in its investment bank, due in part to revenue pressures and relatively slow trading conditions, the firm's chief financial officer said Wednesday.

Speaking at an investor conference in New York, JP Morgan CFO Marianne Lake said the firm could cut compensation if it continues to face short-term revenue pressures. She didn't give a time frame, however.

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