• JPMorgan Chase reduce about 500 positions this week, mainly amongst technologies and operations groups, according to individuals with understanding of the move.
• The cuts had been spread across the New York-primarily based firm’s most important divisions, mentioned the individuals, who declined to be identified speaking about personnel matters.
• The dismissals come even as JPMorgan seeks to fill about 13,000 open positions, mentioned 1 of the individuals.

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 individuals with understanding 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 individuals, who declined to be identified speaking about personnel matters.

Like lots of economic firms, JPMorgan periodically trims employees throughout the year, even as it hires thousands a lot more workers to fill roles. The bank has about 13,000 open positions, mentioned 1 of the individuals.

Below CEO Jamie Dimon, JPMorgan has been in development mode as of late, most not too long ago by acquiring failed regional bank Initially Republic in a government-brokered deal. This week, JPMorgan provided 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.