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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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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.