NEW YORK - JPMORGAN plans to cut as many as 10 per cent of its European investment banking jobs, Bloomberg reported.

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

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