- JPMorgan Chase reduce about 500 positions this week, largely amongst technologies and operations groups, according to individuals with expertise of the move.
- The cuts have been spread across the New York-primarily based firm’s primary divisions, stated the individuals, who declined to be identified speaking about personnel matters.
- The dismissals come even as JPMorgan seeks to fill about 13,000 open positions, stated one particular of the individuals.
JPMorgan Chase & Co. headquarters in New York, US, on Wednesday, Jan. 18, 2023.
Gabby Jones | Bloomberg | Getty Photos
JPMorgan Chase reduce about 500 positions this week, largely amongst technologies and operations groups, according to individuals with expertise of the move.
The cuts have been spread across the New York-primarily based firm’s primary divisions of retail and industrial banking, asset and wealth management and its corporate and investment bank, stated the individuals, who declined to be identified speaking about personnel matters.
Like numerous monetary firms, JPMorgan periodically trims employees for the duration of the year, even as it hires thousands far more workers to fill roles. The bank has about 13,000 open positions, stated one particular of the individuals.
Below CEO Jamie Dimon, JPMorgan has been in development mode as of late, most lately by acquiring failed regional bank Initially Republic in a government-brokered deal. This week, JPMorgan supplied positions to about 85% of Initially Republic’s roughly 7,000 workers.
JPMorgan had 296,877 personnel as of March 31, eight% larger than a year earlier.
The bank declined to comment about its personnel choices.
