JPMorgan Chase cut about 500 jobs this week, including technology and operations roles

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, principally amongst technology and operations teams, in accordance with individuals with data of the transfer.

The cuts had been unfold throughout the New York-based agency’s foremost divisions of retail and business banking, asset and wealth administration and its company and funding financial institution, stated the individuals, who declined to be recognized talking about personnel issues.

Like many monetary corporations, JPMorgan periodically trims workers in the course of the 12 months, even because it hires hundreds extra employees to fill roles. The financial institution has about 13,000 open positions, stated one of many individuals.

Under CEO Jamie Dimon, JPMorgan has been in progress mode as of late, most just lately 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 employees.

JPMorgan had 296,877 employees as of March 31, 8% increased than a 12 months earlier.

The financial institution declined to remark about its personnel choices.

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