JP Morgan And Follow The company is the latest to join the list of ongoing tech layoffs. The largest US lender is planning to cut 500 jobs this week. lay off There is a possibility of affecting the employees of the departments.
As reported by Reuters, the upcoming layoffs at JPMorgan will affect employees across the bank’s core businesses — consumer, commercial banking, asset and wealth management — as well as technology and operations. However, the company has not yet released any official statement regarding the job cuts.
According to a JPMorgan source, the bank is implementing workforce cuts that will affect about 1,000 employees at First Republic Bank, which was acquired by JPMorgan earlier this month. First Republic BankThe failure marked the US lender’s biggest collapse since 2008, leading to its seizure by regulators and subsequent sale to JPMorgan in early May.
Like many financial institutions, JPMorgan regularly cuts staff throughout the year, while concurrently hiring thousands of individuals to fulfill various roles. As per the reports, the bank currently has around 13,000 vacancies.
Verizon Recently announced job cuts
Meanwhile, US telecom carrier Verizon also announced that it plans to lay off employees. Verizon recently informed its customer service department employees about an impending reorganization, as reported by The Verge. During a meeting involving 6,000 employees, the company discussed its intention to begin laying off employees. However, it is possible that additional employees may be affected by this decision. The report further states that the roles most affected by these changes include positions related to customer experience, loyalty and technology.
As reported by Reuters, the upcoming layoffs at JPMorgan will affect employees across the bank’s core businesses — consumer, commercial banking, asset and wealth management — as well as technology and operations. However, the company has not yet released any official statement regarding the job cuts.
According to a JPMorgan source, the bank is implementing workforce cuts that will affect about 1,000 employees at First Republic Bank, which was acquired by JPMorgan earlier this month. First Republic BankThe failure marked the US lender’s biggest collapse since 2008, leading to its seizure by regulators and subsequent sale to JPMorgan in early May.
Like many financial institutions, JPMorgan regularly cuts staff throughout the year, while concurrently hiring thousands of individuals to fulfill various roles. As per the reports, the bank currently has around 13,000 vacancies.
Verizon Recently announced job cuts
Meanwhile, US telecom carrier Verizon also announced that it plans to lay off employees. Verizon recently informed its customer service department employees about an impending reorganization, as reported by The Verge. During a meeting involving 6,000 employees, the company discussed its intention to begin laying off employees. However, it is possible that additional employees may be affected by this decision. The report further states that the roles most affected by these changes include positions related to customer experience, loyalty and technology.