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UPDATE 3-JPMorgan #teamfollowback to cut 8,000 jobs, lowers 2014 profit | | By David Henry and Peter Rudegeair Feb 25 - JPMorgan Chase Co, the largest U.S. bank, announced thousands of job cuts on Tuesday as the mortgage lending business slows, and said it was lowering its profitability target. The company said it expected total headcount to fall by 5,000 to 260,000 in 2014. Around 6,000 full-time and contractor jobs in JPMorgan's home loans unit and 2,000 jobs in its branch and credit-card network will be cut. At the same time, the bank expects to a |
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