J.P Morgan Will Stop Giving Free Phones to Employees By Next Year
Investment giant J.P Morgan has confirmed that it will stop giving out free BlackBerry handsets to all of its employees.
Starting from next year, folks being recruited into the bank will not get a BlackBerry handset, as was custom with the company for quite a while. Those who keep their company-issued BlackBerry cellphones will have to pay the monthly invoice for data
This is an attempt for the company to save tens of millions of dollars as it prepares itself to meet its target drop in expenses by 6% by next year. This is merely one small move in a much larger scheme to regulate the expenses by the investment body.
Wall Street Journal reports that J.P Morgan is looking to take further actions to cut their expenses out, following the settlements that the bank signed with the Justice Department following the financial crisis.
Along with this new smartphone policy, the bank has also informed that its company emails will no longer be to read on a BlackBerry device. This news comes just as BlackBerry readies its Priv handset, the first Android powered smartphone from the company.
The phone gets its name from ‘privacy’, as its slider keyboard design is said to provide users with high levels of security.