According to people with knowledge of the move, JPMorgan Chase cut about 500 positions this week.

It's believed that the cuts were made across a number of the firm's major divisions, including

Retail And Commercial Banking, Asset And Wealth Management, As Well As The Corporate And

Investment Banking Division, Said The People, Who Declined To Be Identified Due To Personnel Issues.

Although JPMorgan hires thousands more workers each year to fill positions, it trims its staff periodically during

The Year. One Of The Bank's Employees Stated That There Are Approximately 13,000 Open Positions.

Having recently acquired First Republic in a deal facilitated by the government, JPMorgan has been

In Growth Mode Under CEO Jamie Dimon. About 85% Of The Roughly 7,000 Employees Of First

Republic Were Offered Employment By JPMorgan This Week. There were 296,877 employees

At JPMorgan As Of March 31, An Increase Of 8% From The Previous Year. There was no