JPMorgan Chase and Co. said today that it will eliminate about 12,000 jobs as it folds in the operations of recently acquired Washington Mutual. The New York-based bank said it expect to save about $1.35 billion from the cuts.
JPMorgan acquired the assets of Seattle-based Washington Mutual, the largest bank ever to fail in US history, at the end of September. It was not announced where the cuts will be made. Washington Mutual has a major presence in Oregon.
Friday, February 27, 2009
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