The report did not mention the exact number of jobs to be cut but said the planned layoffs represent about 1% of employees in the unit.
JP Morgan will notify the impacted staff on 6 February and give them a chance to apply for other roles at the bank, according to the report.
The consumer unit includes the credit-card, deposit, home and auto lending businesses, and makes for about half of the bank’s revenue.
Banks around the world have cut thousands of jobs as they slash costs to weather a slowing economy and adapt to shifts in consumer behaviour and in digital technology.
