Jp Morgan Chase to cut 17,000 jobs over two years
JP Morgan Chase, the US's most profitable bank in 2012 and the nation's biggest lender by assets, set plans yesterday to cut 17,000 jobs over two years amid rising pressure in the banking industry to slash costs amid stagnant revenue.
JPMorgan Chase & Co. said yesterday that it would cut 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the nation's largest bank to fail amid the credit crisis.