Washington - US banking giant JPMorgan Chase will cut thousands of jobs in a cost-shaving programme aimed at saving $5-billion through 2017, a person close to the situation told AFP on Thursday.
The largest US bank will eliminate more than 5 000 jobs by next year, said another source, confirming a report in The Wall Street Journal.
The layoffs will affect all four of the bank's major business units, the sources said, speaking on condition of anonymity.
The goal is to cut two percent of the workforce, which was 241 145 employees at the end of December. Last year, JPMorgan slashed nearly 8 000 jobs, mainly in the mortgage loan business.
The bank, contacted by AFP, declined to comment.