Correction: An earlier version of this story stated that Goldman did away with guaranteed two-year contracts, and the bonuses it paid, for analysts outside of sales and trading and investment research. It did away with two-year contracts for analysts outside of sales and trading and investment research.
Correction: An earlier version of this story incorrectly reported that Marianne Lake and Jamie Dimon were speaking from CNBC's CFO Council. Both were speaking at JPMorgan's Investor Conference.
The company later clarified that there will be 17,000 net job cuts over the next two years. About 4,000 of those will occur this year and 13,000 are planned for 2014. Among the 17,000 total cuts, about 6,000 will occur at its retail branches and 15,000 in its mortgage banking unit.
An earlier version of this story mistakenly identified Aera as based in Canada. California-based Aera Energy is a privately held limited liability company and is not affiliated with the Canadian firm by the same name.
An earlier version of this story incorrectly converted 555 million euros to $732 billion instead of $732 million.