If the image has big dimenssions is hard to get good results without resizing, below is a 60 percent resizing which for most of the purposes doesn't destroys too much of the image.
I use this with good result for gray-scale images (I convert from PNG):
ls ./*.png | xargs -L1 -I {} convert {} -strip -interlace JPEG -sampling-factor 4:2:0 -adaptive-resize 60% -gaussian-blur 0.05 -colorspace Gray -quality 20 {}.jpg
I use this for scanned B&W pages get them to gray-scale images (the extra arguments cleans shadows from previous pages):
ls ./*.png | xargs -L1 -I {} convert {} -strip -interlace JPEG -sampling-factor 4:2:0 -adaptive-resize 60% -gaussian-blur 0.05 -colorspace Gray -quality 20 -density 300 -fill white -fuzz 40% +opaque "#000000" -density 300 {}.jpg
I use this for color images:
ls ./*.png | xargs -L1 -I {} convert {} -strip -interlace JPEG -sampling-factor 4:2:0 -adaptive-resize 60% -gaussian-blur 0.05 -colorspace RGB -quality 20 {}.jpg