Hiring will be more than offset by job cuts
February 27, 2013  11:46
J P Morgan Chase & Co said on Tuesday that it plans to cut 17,000 jobs by the end of 2014, representing about 6.6 per cent of the company's overall workforce, as the bank sheds staff that helped it deal with bad home loans.
The bank is optimistic that it can generate record income this year and is planning to add 4,000 employees in commercial and investment banking and credit cards to help it win business, bank executives said at an investor conference.
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