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There is a scheduled task for this:
Job History Archival
This scheduled task is designed to archive/purge entries for Job History.
Archival Date: Use this attribute to specify date till which the records need to be archived/purged.
Batch Size: Use this attribute to specify the size of a batch in which the records must be processed.
Operation Type: Use this attribute to specify the operation type. This attribute can have two possible values, Archive and Purge.
The default value is Archive.