JPMorgan Chase, the largest-bank in the US by assets, has announced it is to cut up to 4,000 jobs in its consumer banking division throughout 2013.

The bank is looking to reduce costs by cutting staff and adding more technology to its branch network to handle routine transactions.

Spokeswoman Kristin Lemkau said the cuts would come mainly through attrition.

JPMorgan Chase has increased the size of its branch network while other banks have been scaling back.

From 2010, the number of branches increased by 6.6% to 5,614 branches in 2012.

The bank said it plans to continue adding about 100 branches a year.

Ryan McInerney, head of consumer banking at JPMorgan Chase, said the net effect of the cuts would be a reduction in staff per branch of 20% by 2015.


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