J.P. Morgan Chase and Bank One expect to cut 10,000 positions as a result of their $60 billion merger, announced late Wednesday afternoon.

The cuts would amount to approximately 7% of their combined U.S. workforce.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.