• JPMorgan Chase reduce about 500 positions this week, mainly amongst technologies and operations groups, according to people today with expertise of the move.
• The cuts had been spread across the New York-primarily based firm’s most important divisions, mentioned the people today, who declined to be identified speaking about personnel matters.
• The dismissals come even as JPMorgan seeks to fill about 13,000 open positions, mentioned a single of the people today.

JPMorgan Chase &amp Co. headquarters in New York, US, on Wednesday, Jan. 18, 2023.

Gabby Jones | Bloomberg | Getty Pictures

JPMorgan Chase reduce about 500 positions this week, mainly amongst technologies and operations groups, according to people today with expertise of the move.

The cuts had been spread across the New York-primarily based firm’s most important divisions of retail and industrial banking, asset and wealth management and its corporate and investment bank, mentioned the people today, who declined to be identified speaking about personnel matters.

Like several economic firms, JPMorgan periodically trims employees through the year, even as it hires thousands extra workers to fill roles. The bank has about 13,000 open positions, mentioned a single of the people today.

Beneath CEO Jamie Dimon, JPMorgan has been in development mode as of late, most lately by acquiring failed regional bank Initially Republic in a government-brokered deal. This week, JPMorgan supplied positions to about 85% of Initially Republic’s roughly 7,000 workers.

JPMorgan had 296,877 personnel as of March 31, eight% greater than a year earlier.

The bank declined to comment about its personnel choices.