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News
More Chase layoffs?
August 20, 2001: 8:15 p.m. ET

J.P. Morgan Chase reportedly cutting 3,000 more jobs, bringing total to 8,000
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NEW YORK (CNNfn) - Weak market conditions are forcing J.P Morgan Chase & Co. to cut as many as 3,000 more jobs, which would bring total job reductions to 8 percent of the company, a published report said Monday.

The Wall Street Journal interactive edition said J.P. Morgan will cut up to 8,000 jobs, up from previous estimates of 5,000 cuts, according to sources in the company.

J.P. Morgan (JPM: Research, Estimates) declined to comment.

The company will start cutting back-office positions such as tech workers when the integration of the J.P. Morgan and Chase Manhattan businesses are finished in 2002, the Journal said.

In December 2000, the company said it would cut 5,000 positions as a result of the merger. graphic

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.