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This week, JP Morgan is cutting around 500 jobs

Business

This week, JP Morgan is cutting around 500 jobs

JP Morgan

Approximately 500 employees throughout the bank will be let go by JPMorgan Chase this week, a spokesperson revealed to CNN on Friday.

The company-wide layoffs, which were initially reported by CNBC, will mostly affect technology and operations, according to JPMorgan.

According to a JPMorgan representative, the company continues to hire in other sectors while also reviewing its business and client needs on a regular basis.

The bank employs close to 300,000 employees and has about 13,000 unfilled positions.

Just one day prior, JPMorgan had informed around 1,000 First Republic Bank workers that their jobs would be eliminated.

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