JP Morgan Chase & Co. JPM, +1.26% laid off about 500 workers this week, mostly in tech and operations, according to a report Friday. CNBC reported the cuts were spread across all divisions.
The moves comes as JPMorgan Chase axes employees of First Republic Bank, which it recently acquired.
JPMorgan Chase & Co cut around 500 jobs this week, mostly among technology and operations groups, CNBC reported on Friday, citing people with knowledge of the move.
Like many financial firms, JPMorgan periodically trims staff during the year, even as it hires thousands more workers to fill roles.
More than 136,000 employees were laid off by major U.S. companies in the first quarter of 2023.
The Manhattan District Attorney's office must give JPMorgan Chase & Co documents relevant to a lawsuit against the bank over its ties to late sex offender Jeffrey Epstein, a U.S. judge ruled on Friday
As part of the integration process, JPMorgan (JPM) and First Citizens BancShares (FCNCA) announce layoffs at acquired First Republic Bank and Silicon Valley Bank, respectively.

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The bank built up its regulatory capital ratios and expects to generate sufficient excess capital this year. But there is still some uncertainty regarding what its capital requirements will be in 2024
JPMorgan Chase & Co (NYSE:JPM), the New York-based banking giant, is developing an artificial intelligence (AI) powered software service, akin to OpenAI's ChatGPT, to curate tailored investments for c
JPMorgan Chase & Co. laid off about 1,000 former First Republic Bank employees Thursday, weeks after its takeover of the failed lender.
JPMorgan Chase informed about 1,000 First Republic Bank employees on Thursday that they will no longer have jobs.
JPMorgan Chase & Co (NYSE: JPM) is working on a software similar to ChatGPT that will use artificial intelligence to offer investment advice. Here's what we know so far On Thursday, the financial serv
JPMorgan is laying off roughly 1,000 employees of First Republic Bank, which it acquired on May 1. About 85% of First Republic's roughly 7,000 employees were told they can stay with the bigger bank.
Banks including Goldman Sachs and Morgan Stanley are testing A.I. internally, but JPMorgan may be the first to release a GPT-like product directly to customers.
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