Wednesday, January 18, 2023, JPMorgan Chase headquarters in New York, USA.
Gabby Jones | Bloomberg | Getty Images
JPMorgan About 500 jobs were cut this week, mainly in technology and operations, according to people familiar with the matter.
The layoffs spread across the New York-based company’s main divisions, including retail and commercial banking, asset and wealth management, and corporate and investment banking, the people said, speaking on condition of anonymity.
Like many financial firms, JPMorgan regularly cut jobs during the year while hiring thousands more to fill the gaps. The bank has about 13,000 open positions, one of the people said.
Under Chief Executive Jamie Dimon, JPMorgan has been in growth mode of late, most recently buying failed regional bank First Republic in a government-brokered deal.This week, JP Morgan offer jobs About 85 percent of First Republic’s roughly 7,000 workers.
JP Morgan has 296,877 employee As of March 31, an increase of 8% year-on-year.
The bank declined to comment on its personnel decisions.