JPMorgan Chase & Co. headquarters in New York, US, on Wednesday, Jan. 18, 2023.
Gabby Jones | Bloomberg | Getty Images
JPMorgan Chase cut about 500 positions this week, largely amongst technology and operations teams, in line with folks with data of the transfer.
The cuts had been unfold throughout the New York-based agency’s foremost divisions of retail and industrial banking, asset and wealth administration and its company and funding financial institution, mentioned the folks, who declined to be recognized talking about personnel issues.
Like many monetary corporations, JPMorgan periodically trims employees throughout the yr, even because it hires hundreds extra staff to fill roles. The financial institution has about 13,000 open positions, mentioned one of many folks.
Under CEO Jamie Dimon, JPMorgan has been in development mode as of late, most not too long ago by acquiring failed regional financial institution First Republic in a government-brokered deal. This week, JPMorgan offered positions to about 85% of First Republic’s roughly 7,000 staff.
JPMorgan had 296,877 employees as of March 31, 8% increased than a yr earlier.
The financial institution declined to remark about its personnel selections.
