JPMorgan to cut Europe investment banking

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JPMorgan plans to cut as many as 10% of its European investment banking jobs, Bloomberg reported.

The commercial bank, which bought Bear, Stearns & Cos in March, will make the cuts from mostly junior roles in Europe between now and September, according to a story on Bloomberg's website that cited two unnamed sources.

JPMorgan has over 180,000 employees globally, including about 25,000 in investment banking.

Spokespeople for JPMorgan Chase were not available for comment. (Reuters)

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