JPMorgan Chase is planning to cut voice mail for its retail bank employees as part of its cost saving drive to trim $2bn in annual expenses.
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Eliminating voicemail for its nearly 136,000-person retail workforce will result in a savings of about $16m a year.
The bank will eliminate 65% of its voice mail boxes which is expected to save $3.2m a year for the division, said a JPMorgan spokesperson.
The service will be cut only for employees who do not deal directly with customers, while managers will have discretion to keep it for employees who need it.
JPMorgan’s consumer and community banking CEO Gordon Smith said: "We realized that hardly anyone uses voice mail anymore because we’re all carrying something in our pockets that’s going to get texts or e-mail or a phone call. So we started to cut those off."
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