Business

JPMorgan to cut at least 17,000 jobs over next two years

JPMorgan CEO Jamie Dimon is cutting costs as he looks to extend his record profit streak.

The nation’s biggest bank is expected to ax at least 17,000 jobs over the next two years — including 4,000 this year.

The cuts, disclosed at a presentation to investors yesterday, are expected to reduce the bank’s expenses by $1 billion, said Marianne Lake, JPMorgan’s new CFO.

In his opening remarks, Dimon boasted that the bank is now a “battleship” ready for the next downturn.

He also touted the bank’s brand and its strength relative to its peers.

JPMorgan shares closed down 0.2 percent yesterday, to $47.60.