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Subject JPMorgan Chase to Slash $1 Billion in Costs; FIRE 4,000 employees

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Original Message JPMorgan Chase became the latest Wall Street firm to scale back in an uncertain economy, announcing plans Tuesday to save $1 billion through various costs cuts and about 4,000 job reductions.

The bank, struggling to emerge from the shadow of a trading scandal known as the "London Whale" affair that dealt the firm ts biggest ever trading loss, also issued a stark warning about the rising costs of regulation.

[link to www.cnbc.com]

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