JPMorgan Chase & Co is cutting about 500 employees this week across its various departments, according to a person familiar with the situation who asked not to be identified discussing personnel matters.
The layoffs will affect employees across the bank's main businesses - consumer, commercial banking, asset and wealth management - as well as technology and operations, the source said. JPMorgan is the largest US lender.JPMorgan declined to comment. On Thursday, a JPMorgan source said the lender was laying off nearly 1,000 First Republic Bank employees after acquiring the failed bank earlier this month.
First Republic became the largest US lender to fail since 2008 after it was seized by regulators and sold to JPMorgan in early May. JPMorgan's workforce stood at 296,877 at the end of the first quarter, up eight per cent from a year earlier, according to a filing.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dennis Chew says this chicken curry sold at an HDB block tastes like how your ah mah cooks itThe Love 972 DJ enjoys this dish so much, he eats it every week.
Source: TODAYonline - 🏆 1. / 99 Read more »
Highest paying jobs in Singapore 2023: Which industries pay 6-figure salaries?I firmly believe that comparing ourselves to others is a pointless endeavour. Only tiger parents engage in that kind of toxic exercise. Yet here I am, writing this article about the highest-paying jobs in Singapore, one that is sure to give you a moment of panic…unless yours appears on the list. That said, you don’t have to give up on...
Source: asiaonecom - 🏆 10. / 59 Read more »
G7 officials to hold first meeting on AI regulation next weekTOKYO : Group of Seven (G7) nation officials will meet next week to consider problems posed by generative artificial intelligence (AI) tools like ChatGPT, Japan said on Friday.Leaders of the G7, which includes the United States, European Union and Japan, last week agreed to create an intergovernmental for
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US Navy probe finds major problems with Seal training after trainee deathHe died of what was ultimately diagnosed as pneumonia just after completing “Hell Week”. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Britain's Boris Johnson discussed Ukraine with former US president Trump, says spokesmanJohnson has been visiting the US this week to speak to politicians about maintaining support for Kyiv. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Nipsea SVP’s tip-off helps sister, brother-in-law net $75k on stocks; all fined for insider tradingThe couple bought 40,000 Dulux shares about a week before the firm was acquired by Nippon Paint. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »