JP Morgan

Creditors likely to take over control of Tribune Co from billionaire Sam Zell

US Bankruptcy Court

As per a reorganization plan being negotiated in US Bankruptcy Court, a creditors' group of large banks and investors - including JPMorgan Chase and Citigroup, and institutional investors and funds like Oaktree Capital Management and Angelo, Gordon & Co - might possibly take over the control of the Chicago-based media conglomerate Tribune Co. from the billionaire Sam Zell.

JPMorgan announces a whopping 87 percent slash in dividend

The supposedly strongest player on the US financial scene, JPMorgan Chase & Co came up with a surprise move on Monday – it announced the slashing of its dividend by a whopping 87 percent – from 38 cents to 5 cents - and further added that “for the time being,” it intends keeping that level!

JPMorgan Chase to cut 20% of WaMu’s jobs

JPMorgan Chase & Co., which acquired the collapsed Washington Mutual Inc, will be eliminating more than 20% of WaMu’s work force - cutting 9,200 jobs nationwide.
As of the end of the third quarter, JPMorgan Chase reported that Washington Mutual had nearly 42,000 employees.

JPMorgan plans to retain 24,000 employees; Final announcement to come on Dec 1

JPMorgan Chase, a leading global financial services firm which had acquired the ailing Washington Mutual, plans to retain about 24,000 employees of the savings and loan association.

However, it plans substantial job cuts at its former headquarters and elsewhere.

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