JPMorgan layoffs about 5000 jobs over the next years

JPMorgan Chase & Co.

JPMorgan layoffs about 5000 jobs over the next years

On Thursday, New York-based banking company, JPMorgan Chase announced to cut about 5000 jobs over the next years, as the bank wants to close down its branches, and to decline its operations.

In February, JPMorgan expected to settle down with 300 fewer bank branches over the two years that cuts off about 5 per cent of the network.

On Wednesday, at an investor conference, JPMorgan CEO- Jamie Dimon said that the average chase brand would be losing an employee, mostly due to attrition. The recent move is intended by bank, and makes it as the nation’s largest bank overhauls its 5570 bank branches, depending more on technology and eliminating human teller or financial consultants.

A company’s spokesperson, Paul Hartwick, said that there are not current modifications planned for Delaware, and added that they have expanded their business presence here significantly over the past several years and currently is having job positions vacant.

In Delaware, the company employs at least 75000 workers, including at its offices in Fairfax and Wilmington. That number includes the totaling of around 1,200 since year 2012, as the company has expanded its presence in the state.

JPMorgan Chase and Co. does not have any full bank branches in the state that will reportedly be most affected by the layoffs. On the other hand, the company has more broad-based, affecting all the banks’ major business units, such as assets management, commercial banking, corporate and investment banking, and consumer and community banking.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

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