JPMorgan is Cutting About 500 Jobs
JPMorgan Chase is undergoing a round of layoffs, with approximately 500 employees being let go across the bank, as confirmed by a spokesperson to CNN.
The layoffs, which were initially reported by CNBC, are being conducted company-wide but are primarily focused on technology and operations roles, according to JPMorgan.
The spokesperson stated that the bank regularly evaluates its business and customer needs, and despite the layoffs, it continues to hire in other areas. JPMorgan currently has over 13,000 job openings and employs nearly 300,000 individuals.
This announcement follows another recent job cut development, as JPMorgan informed approximately 1,000 employees of First Republic Bank that their positions were being eliminated.
JPMorgan had acquired a majority of First Republic earlier in the month after the government seized the San Francisco-based regional bank.
These layoffs reflect the bank’s ongoing efforts to adapt to changing market conditions and optimize its workforce to align with business priorities and customer demands.
