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JPMorgan Chase reportedly has a number of rounds of layoffs coming this 12 months, and a few staff on the firm have apparently began being advised they may lose their jobs.
Barron’s reported Wednesday that some JPMorgan Chase staff realized from supervisors final week that their jobs could be impacted by layoffs. The outlet cited unnamed sources “familiar with the matter.”
Layoffs on the financial institution this month will have an effect on lower than 1,000 staff, in response to the report.
The JPMorgan Chase brand at their headquarters constructing on Might 26, 2023, in New York Metropolis. ( Michael M. Santiago / Getty Photographs)
Extra layoffs are on the horizon at JPMorgan Chase, with the corporate different rounds in March, Might, June, August and September, Barron’s reported.
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JPMorgan Chase advised FOX Enterprise that it “regularly review[s] our business needs and adjust[s] our staff accordingly – creating new roles where we see the need or reducing positions when appropriate.”
“Our strategy has not changed, and we run the company to invest through the cycle. We continue to hire in many areas and work hard to redeploy impacted employees,” the corporate added. “This is part of our regular management of the business and impacts a very small number of employees.”
Ticker Safety Final Change Change % JPM JPMORGAN CHASE & CO. 275.37 +0.21
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Coming into 2025, JPMorgan’s workforce totaled over 317,000.
“In the last year, we added more than 7,000 jobs and currently have about 14,000 open positions,” JPMorgan Chase advised FOX Enterprise.
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The corporate does enterprise in asset and wealth administration, business banking, client and group banking, company and funding banking, and expertise, in response to its web site. The upcoming job cuts won’t hit each unit every time, Barron’s reported.
The principle entrance to the JPMorgan Chase constructing in Manhattan, March 21, 2023. (Erik McGregor/LightRocket through / Getty Photographs)
In mid-January, JPMorgan reported managed income of almost $43.74 billion for the fourth quarter. Its quarterly internet revenue got here in at $14 billion, marking a 50% soar year-over-year.
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It had $4 trillion in property and $345 billion in stockholders’ fairness on the finish of 2024, in response to the corporate.
