JPMorgan Chase cut about 500 technology and operations jobs this week, sources say

JPMorgan Chase chopped astir 500 positions this week, mostly among exertion and operations groups, according to radical with cognition of the move.

The cuts were dispersed crossed the New York-based firm's main divisions of retail and commercialized banking, plus and wealthiness absorption and its firm and concern bank, said the people, who declined to beryllium identified speaking astir unit matters.

Like galore fiscal firms, JPMorgan periodically trims unit during the year, adjacent arsenic it hires thousands much workers to capable roles. The slope has astir 13,000 unfastened positions, said 1 of the people.

Under CEO Jamie Dimon, JPMorgan has been successful maturation mode arsenic of late, astir precocious by acquiring failed determination slope First Republic successful a government-brokered deal. This week, JPMorgan offered positions to astir 85% of First Republic's astir 7,000 workers.

JPMorgan had 296,877 employees arsenic of March 31, 8% higher than a twelvemonth earlier.

The slope declined to remark astir its unit decisions.