In a recent development across various divisions including retail and commercial banking, asset and wealth management, and JPMorgan’s corporate and investment bank, the organization initiated a targeted downsizing effort, according to CNBC’s sources.
Despite these adjustments, JPMorgan continues to maintain an extensive talent pool with approximately 13,000 open positions, and it has recently extended employment offers to the majority of the workforce acquired from First Republic, totaling 7,000 individuals.
Recognizing the significance of technology in its operations, the bank has been actively investing in this area. CEO Jamie Dimon faced scrutiny from shareholders last year for providing insufficient details regarding the bank’s substantial technology expenditure plans.
