JPMorgan Chase has cut about 500 tech and apps jobs

  • JPMorgan Chase cut about 500 positions this week, mostly in technology and operations groups, according to people with knowledge of the move.
  • The cuts spanned key divisions of the New York-based company, said the people, who declined to be identified in personnel matters.
  • The layoffs come even as JPMorgan seeks to fill about 13,000 jobs, one of the people said.

JPMorgan Chase & Co., New York, USA on Wednesday, January 18, 2023. headquarters.

Gabby Jones | Bloomberg | Good pictures

JPMorgan Chase cut about 500 positions this week, mostly in technology and operations groups, according to people with knowledge of the move.

The cuts spread across the New York-based firm’s core divisions of retail and commercial banking, asset and wealth management and its corporate and investment banking, the people said, declining to be identified talking about individual matters.

Like many financial firms, JPMorgan periodically lays off employees throughout the year, and it still employs thousands of workers. The bank has about 13,000 open positions, one said.

Under CEO Jamie Dimon, JP Morgan has been in growth mode, most recently buying failed regional bank First Republic in a government-brokered deal. This week, JP Morgan Assigned positions About 85% of the First Republic’s approximately 7,000 workers.

JP Morgan 296,877 workers As of March 31, 8% higher than the previous year.

The bank declined to comment on its personnel decisions.

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