JPMorgan Chase & Co (JPM.N) is set to cut 500 employees across departments, impacting key sectors such as consumer and commercial banking, asset management, and technology. The bank, being the largest in the US, currently has over 13,000 job openings. JPMorgan declined to comment. Additionally, the lender recently acquired First Republic Bank and is laying off nearly 1,000 of its employees. First Republic’s acquisition marks the largest US bank failure since 2008, as it was seized by regulators and sold to JPMorgan in May. JPMorgan’s workforce stood at 296,877 at the end of Q1, up 8% from the previous year.
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Summary
Article Name
JPMorgan to Slash 500 Jobs in Current Week
Description
JPMorgan Chase & Co (JPM.N) is set to cut 500 employees across departments, impacting key sectors such as consumer and commercial banking, asset management, and technology.
Author
Susan Jane
Publisher Name
Reuters
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