NEW YORK - JPMORGAN Chase & Co said on Thursday it will eliminate about 12,000 jobs as it folds in the operations of Washington Mutual Inc.
According to slides on the company's website from an investor day presentation, the New York bank expects about US$2 billion (S$3.07 billion) in net savings to be achieved through the acquisition, the majority of which will be realised by the end of this year. This includes about US$1.35 billion related to the job cuts, the bank said.